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Crypto ETP provider, 21shares, on Thursday, announced the launch of the 21Shares FTSE Crypto 10 Index ETF (TTOP) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (TXBC). The launch, according to 21shares, represents the first crypto index ETFs registered under the Investment Company Act of 1940 ("40 Act"). Prior to 21shares, only two index crypto ETFs tied to multiple coins have launched, and both are '33 Act funds.
The 21Shares Crypto Index ETFs, TTOP and TXBC, allow investors access to major cryptocurrencies, including Dogecoin, without the need to manage wallets or keys.
TTOP, a FTSE Crypto 10 Index ETF, offers exposure to the top 10 crypto assets by market cap, while TXBC, a FTSE Crypto 10 ex-BTC Index ETF provides a diversified basket of crypto assets, excluding Bitcoin.
The debut of the 21Shares ETFs marks the most recent push by issuers beyond single-coin spot ETFs and into index products.
Dogecoin not slowing down
The official Dogecoin X account has reacted to the milestone, which highlights DOGE's increasing relevance in the cryptocurrency space. It highlighted a shift from when Dogecoin was perceived as only a joke to it gaining ground among the top 10 cryptocurrencies by market capitalization: "Dogecoin still got it: Remember when Dogecoin was only a joke? When everyone was clamoring to get on exchanges and be accepted by anyone besides your mom? (and sometimes not even her).Now listen and you’ll hear things like ..Including the top 10 worldwide cryptos, such as Dogecoin.That’s us. That’s all of us."
"Dogecoin isn't slowing down on its way to becoming the people's currency," the X account added.
In April, 21Shares announced the launch of a fully backed Dogecoin ETP on Switzerland’s SIX Swiss Exchange under the ticker DOGE. The ETP, the first and only endorsed by the Dogecoin Foundation, was developed through an initiative with the House of Doge, the foundation’s official corporate arm.
U.Today Editorial Team
Dan Burgin
