The largest exchange-traded product (ETP) provider 21Shares has announced the launch of a Crypto Winter Suite, helping investors withstand the bear market.
The Suite will offer products which allow investors to venture into the cryptocurrency space at a relatively low cost for long and short-term strategic allocations.
“Given the current market environment, many investors are looking to ‘buy-the-dip’ and generate the maximum potential long-term return,” said Arthur Krause, Director of ETP Products at 21Shares.
“Our Crypto Winter Suite will provide ways for investors to dip their toes in the water at some of the lowest costs on the market”.
The first product of this new fund is 21Shares Bitcoin Core ETP (CBTC), which was launched on SIX Swiss Exchange.
“We’ve seen investor demand for low-cost exposure to this asset class – and the 21Shares Bitcoin Core ETP – the first product in our new suite – does just that, at the most competitive pricing in Europe. Our bear-market products provide investors with a robust toolkit for navigating the challenging market environment,” said Hany Rashwan, CEO and co-founder of 21Shares.
CBTC will offer investors low-cost exposure to Bitcoin. CBTC has an expense ratio of 0.21%, reflecting the 21 million total supply of Bitcoin, and the expense ratio of the new fund is 44 basis points lower than the next lowest product on the market.
Once the product has scaled sufficiently, 21Shares will commence lending. The asset class is designed to become the lowest-cost ETP in the European market.
21Shares also intends to launch more bear market-oriented products during this period.