Key Highlights
- 21Shares launched its first U.S. ETFs tracking multiple cryptocurrencies, including Ethereum, Solana, and Dogecoin.
- The ETFs use the ’40 Act structure, offering professional investors a regulated and tax-efficient way to invest.
- This marks the first multi-coin ’40 Act ETF in the U.S., while previous multi-coin ETFs were ’33 Act funds for riskier assets.
Swiss-based digital assets manager 21Shares has launched its first exchange-traded funds (ETFs) for U.S. investors that track a mix of cryptocurrencies, including Ethereum, Solana, and Dogecoin.
The company said the ETFs are its first in the U.S. market under the Investment Company Act of 1940, offering a regulated way for investors to access multiple cryptocurrencies at once instead of a single coin. The funds were launched today in partnership with Teucrium Trading, a firm experienced in using the ’40 Act structure for other investment products.
Two new crypto funds for U.S. investors
The new ETFs are the FTSE Crypto 10 Index ETF (TTOP.P) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (TXBC.P), with fees of 0.5% and 0.65%, respectively. Instead of buying cryptocurrencies directly, 21Shares will gain exposure through its own exchange-traded products listed in Europe.
Duncan Moir, president of 21Shares, explained the difference between fund types: “There’s a difference in the tax treatment, and for professional investors, ’40 Act funds are really the gold standard.” He added that single-coin ETFs are mostly used by everyday investors, while multi-coin index ETFs are likely to be used first by financial advisers and professionals. This is because no one yet knows which cryptocurrencies will succeed in the long term.
Moir also said the new ETFs enter the market in a volatile price environment. Bitcoin recently dropped below $100,000 for the first time since June. As a result, investors have remained cautious and taken profit from earlier gains. Even so, 21Shares expects the new ETFs to grow steadily as more professional investors explore multi-coin crypto products.
Multi-coin ETFs are still new
Till now, only two U.S. multi-coin crypto ETFs existed, and both were ’33 Act funds, designed for riskier assets. Grayscale Investments converted its private fund into an exchange-traded product with Bitcoin, Ethereum, Solana, XRP, and Cardano. The Hashdex Nasdaq Crypto Index ETF also offers a mix of altcoins, while T. Rowe Price filed to launch a crypto index fund in October 2025.
The launch placed 21Shares as the first company to use the ’40 Act for a multi-coin crypto fund in the U.S. It gives investors a more regulated, professional option to invest in cryptocurrencies through a single product.
Also Read: Czech Central Bank Launches $1M Crypto Test Portfolio
