First Crypto ETP for Cosmos Launched by 21 Shares

First Crypto ETP for Cosmos Launched by 21 Shares
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Exchange-traded products or ETPs are set to trade against CHF, EU, and USD on Switzerland’s Six exchange. 21 shares are one of the world’s largest issuers of cryptocurrency ETPs. They have announced the listing of the first Crypto ETP for the Cosmos Blockchain. 

Investors looking to capitalize on the growth trajectory of interoperable, decentralized blockchains that empower the early stage of the metaverse can get their product delivered through 21 share’s cosmos ETP.

Also Read: Asia’s First Crypto ETF to Be Launched In India By Torus Kling Blockchain

The proof of stake chain with the atom token powering an ecosystem of blockchain designed for scaling and interoperability is COSMOS. The organization tries to create a network of blockchains that will communicate with each other in a decentralized way.

The cosmos ecosystem consists of decentralized finance infrastructure and a marketplace. The IBC (Inter-Blockchain Communication) protocol of the cosmos ecosystem will allow blockchain to exchange value without compromising their underlying assets, giving the ecosystem edge in space. 

Also Read: Torus Kling aims to be the First to Invest in a Crypto Futures Exchange-Traded Fund

Cosmos’s decentralized financial ecosystem (Defi Ecosystem) has seen growth in 2022, and currently, it’s under the $9 billion mark, according to Defi Lama.

Cosmos ETP listing announcement affected Price and social sentiment positively. There was a 10% hike in Price, ranging from $ 35.5 to $39.41.

Price saw a jump, but the Retail crowd was still worried about its move as spot trade volume for ATOM saw no major growth; altcoin was 2% on the weekly chart.

Nevertheless, ATOM’s prospects looked decent as development collaboration seemed to make way for a bright future.

21 shares are the exclusive provider of physically-backed crypto ETPs to online broker Comdirect’s savings plan program. The ETPs of 21 shares are currently tradable on 9 exchanges like SIX, Xetra, and Euronext. 

According to 21 shares,” our mission is to provide access to crypto assets for everyone.”

These ETPs are physically replicated and are deposited into offline wallets known as “cold storage”. Any customer can invest through their existing account, and there’s no need for any resources for the management, custody, and security of the underlying crypto assets. 

Also Read: 10 The Best Hardware Wallets to store CryptoCurrency

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