21Shares AG, which issues crypto Exchange Traded Products (ETPs), announced that they are launching the world’s first Polkadot ETP (ADOT SW – CH0593331561 – PDOT) “DOT ETP.”
According to a news post on cryptobriefing, 21Shares, which is a Swiss-based investment product provider, is launching the world’s first exchange-traded product (ETP). The issuer, which was previously called Amun, said on Tuesday the Polkadot ETP (ticker: PDOT) would find itself on the Swiss SIX Exchange on February 4th, 2021.
Those of you who are keen on using Polkadot (PDOT) can do so as it will be available as an exchange-traded product due to 21Shares. Besides assets like Bitcoin and Ethereum can be traded with as 21Shares recently added Polkadot to its cryptocurrency index.
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After adding Polkadot to its crypto index, 21Shares is launching an exchange-traded product (ETP) for the Web3 network’s DOT currency under the ticker PDOT.
Polkadot was also recently added to the 21Shares cryptocurrency index. That product, which is named “HODL,” gives users access to various leading cryptocurrencies. Polkadot has been widening its network by hosting solutions like multi-chain synthetic indexes and smart contract platforms.
At the moment, their weighting is 26.79%, second behind BTC, which is a good sign. The PDOT ETP is the first product giving exposure to Polkadot. It is mainly sold for investors. Polkadot, too, wants to become part of the decentralized world known as Web3.
The growing network is mainly concentrated on the interoperability of other chains. However, the day is not far, where Polkadot can compete with the likes of Ethereum. Hany Rashwan, CEO 21Shares AG, said that the issuer wants to be able to be committed to the unprecedented demand from institutional investors.
Besides, they want to expose investors to crypto assets.
They also want to deliver innovative and simple financial products to the market. Today, Polkadot is the fifth-largest blockchain measured by the market cap. The blockchain is valued at close to $16.2 billion.