21shares enters the Middle East with first spot bitcoin ETP

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The new Spot Bitcoin ETP will be listed and traded on Nasdaq Dubai, 21Shares said in a press release.

21Shares, a leading provider of cryptocurrency exchange traded products (ETPs), has expanded its product range in the Middle East, the company said in a statement. Press release on Wednesday.

The ETP issuer’s entry into the rapidly growing Middle East market comes with the launch of the 21Shares Bitcoin ETP, the region’s first physically backed bitcoin ETP.

21 shares continue to expand

According to the announcement, 21Shares’ new spot BTC exchange-traded product will trade on Nasdaq Dubai under the ticker ABTC and will be similar to the 21Shares Bitcoin ETP Europe.

,Our expansion in the UAE is a major milestone in 21Shares’ international growth plans. Coming from the Middle East itself, this region is exceptionally important to me and as a company, we are committed to providing regional investors with safe and secure access to cryptocurrency-backed products.Honey Rashwan, CEO and co-founder of 21Shares, said in a statement.

21Shares’ move to the Middle East comes weeks after parent company 21.co launched and raised $25 million at a valuation of $2 billion to become the largest crypto unicorn in Switzerland.

,Cryptocurrencies are fast becoming the asset of the future for investors and wealth managers around the world, as global crypto adoption and investment levels continue to accelerate – and the Middle East is a major accelerator of this growth.said Sheriff Al-Haddad, Head of the Middle East for 21Shares.

as coinjournal informed ofEL-Haddad joined 21Shares in August as the crypto ETP issuer expanded its reach across Europe and the Middle East.

Over the past year, and despite the crypto winter, 21Shares has expanded its suite of innovative products, including the world’s first USD yield ETP, a crypto exchange-traded fund (ETF) in Australia and the Bitcoin and Gold ETP at Six. has been introduced. Swiss Exchange.

In June, 21Shares unveiled its Crypto Winter Suite, which coinjournal Too informed ofoffered a product set to help investors navigate a bear market.

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