21Shares will launch the world’s first exchange-traded product (ETP) on Polkadot on the SIX on 4 February.
According to a statement from 21Shares, formerly known as Amun, the Polkadot ETP will appear on the SIX under the ticker PDOT this Thursday. The firm said the reason for listing the new ETP was the company’s desire to stay ahead of the curve amid a surge in interest in crypto assets.
Polkadot is a blockchain interconnection protocol that allows you to transfer not only cryptoassets, but also arbitrary data between blockchains. The Polkadot mainnet was launched by the non-profit Web3 Foundation in May 2020. The DOT project coin is used to manage the network, reward and penalize network members, and add new parachains.
Last Friday, Polkadot was added to the ETP 21Shares HODL basket as the second largest component after BTC, replacing BCH. Thus, 21Shares decided to provide the crypto asset with its own ETP. According to CoinMarketCap, Polkadot’s market capitalization is currently around $ 15.4 billion, which puts DOT the fifth largest cryptocurrency.
“European investors are asking us to launch new products based on other key cryptoassets so that they can be easily accessed without the need for a private key or unregulated wallets and exchanges,” said Hany Rashwan, CEO of 21Shares AG.
In the next three months, 21Shares plans to add more ETP to the listings of other European exchanges.