21Shares launches first dYdX-backed ETP, offering European investors easy, secure exposure to DeFi without crypto wallets.
21Shares, a leading crypto investment firm based in Switzerland, has launched the world’s first exchange-traded product (ETP) backed by dYdX, a decentralized exchange focused on perpetual futures trading. The novel product is named the 21Shares dYdX ETP and is now accessible to European investors via conventional banks and brokers.
New DYDX ETP Offers Easy Exposure Without Crypto Wallets
This debut is a significant move towards decentralized finance (DeFi), getting closer to conventional markets. With this ETP, investors can now have direct exposure to the DYDX token without having to use crypto wallets or decentralized platforms.
DYDX ETP is 100 percent physically backed, meaning it has real DYDX tokens. It follows the actual performance of the token and provides an investor with an easy method to invest in dYdX without having to deal with the convolutions of blockchain technology. The product is traded with a ticker DYDX and is charged a 2.5% management fee. It is listed with the ISIN CH1454621793.
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dYdX is now one of the most successful decentralized perpetual futures exchanges since its launch. The platform has processed more than 1.4 trillion in trading volume, and it lists more than 230 perpetual markets. It still draws more than 15,000 traders weekly and has already done 7.7 billion in trading volume in July alone. These statistics demonstrate the rising popularity of the platform and the rising demand for decentralized financial tools.
Moreover, dYdX is among the few that DeFi projects provide real revenue in USDC, instead of relying on inflationary token models. The platform has, over the years, paid out over 50 million USD in USDC to its users. That will stabilize and make the dYdX ecosystem more sustainable. It also reinforces the argument of DYDX being a long-term investment.
21Shares Brings Institutional Access to dYdX Derivatives Market
To handle the new ETP, 21Shares has collaborated with a DeFi treasury manager called kpk, with the dYdX Treasury subDAO. This decentralized structure ensures the product is backed by real tokens. It does not rely on fake exposure or complex financial tricks. Instead, it uses the actual token economy. This makes the product more transparent and trustworthy.
DYDX has become the fourth crypto ETP to be offered by 21Shares in Europe. The company has approximately 11 billion total assets under management. This growing portfolio shows that 21Shares continues to work hard to give investors access to top digital assets. The company focuses on offering products that are both new and full of potential. It aims to bring the most promising crypto investments to the market.
Mandy Chiu, 21Shares, Head of Financial Product Development, mentioned that dYdX was an ideal match to the product portfolio due to its high performance in the DeFi market. She mentioned that dYdX has already acquired more than 20 percent of the $7.2 trillion that is traded in decentralized perpetuals.
With the further development of DeFi, the introduction of the 21Shares dYdX ETP presents the individual and institutional investor market with new market opportunities. This product, therefore, provides easy access to a fast-changing space. Besides, it demonstrates the attention of 21Shares to the introduction of innovative financial instruments in the market.
