21Shares Launches ETP for Bitcoin and Ethereum Proceeds

21Shares has expanded its crypto offering by launching the world’s first exchange-traded product in US dollars, ETP for the safe proceeds of Bitcoin and Ethereum.

21Shares Return in US Dollars (USDY) – Listed on the SIX Swiss Exchange – Takes US dollars and lends them to counterparties for at least 110% of the security in Bitcoin and Ethereum from market to market daily.

USDY is looking to achieve a 5% return in dollars and a total cost ratio of 0.30%.

21Shares said the resulting return is added directly to the ETP’s net asset value.

The crypto specialist said the product is designed to handle more than a decade of historically low interest rates and high asset values ​​combined with a high inflationary environment.

Ophelia Snyder, CEO and co-founder of 21Shares, said: “We are in a negative interest rate environment and we are pleased to be able to offer a first of its kind that can provide a meaningful risk-adjusted return.

The US dollar does this by taking advantage of the cryptocurrency markets where interest rates are higher while providing liquidity.

“With USDY, we offer a financial product that is fully customized to provide return and reduce risk.”

This comes after 21Shares launched the first Bitcoin and Ethereum spot ETFs in Australia Earlier this month, in partnership with ETFS Securities.

The issuer also launched a Tier 1 Infrastructure and Decentralized Finance (Defi) ETP in May with an interest rate of 2.50%, giving investors exposure to the five largest blockchains that form the foundation of the Defi world.


21Shares Return in US Dollars (USDY) It is a fully secured exchange-traded digital currency (ETC) that is traded on the SIX Swiss Exchange.

SIX Stock Exchange is a marketplace that provides access to a few Swedish banks and online brokers Dejero Do it.

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