21 SHARES LAUNCHES THE MIDDLE EAST’S FIRST SPOT BITCOIN ETP
Financial services company 21 Shares has launched the first physically-backed Bitcoin exchange-traded product (ETP) in the Middle East, according to a press release. The company was previously launched in Europe. “Coming from the Middle East, the region is extremely important to me, and as a company we are committed to providing secure access to cryptocurrency-backed products for regional investors,” Hany said. Rashawn, CEO and co-founder of 21Shares. Additionally, the launch of the 21Shares Bitcoin Spot ETP follows the $25 million raise by its parent company 21.co, which made it Switzerland’s largest “crypto unicorn,” according to a press release.
21Shares offers 46 products across 12 exchanges in nine countries, making it the world’s largest provider of ETPs backed by digital assets like Bitcoin. his opinions on offering the first bitcoin ETP in the range. “Crypto-currencies are fast becoming the asset of the future for investors and wealth managers in whole world like global crypto investment and adoption resumes to accelerate pace and the Middle East is a key accelerator of this growth,” said El- Haddad.
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, also commented on the product, stating that this ETP continues to demonstrate Dubai’s innovation on its journey to becoming a Bitcoin and cryptocurrency hub. FIRST.