21Shares, a crypto-focused asset management company, has launched two ETPs that expose investors to the nuts and bolts of DeFi. On Thursday, the Swiss business listed its Layer 1 ETP (LAY1) on the SIX Swiss Exchange. On May 18, the 21Shares DeFi 10 Infrastructure ETP (DEFII) will be offered on the BX Swiss Exchange. LAY1 monitors an index produced by index provider Vinter, which comprises market value’s 15 largest layer-1 blockchains. Each blockchain has a maximum weighting of 30% of the total allocation. Vinter Focuses on DeFi DEFII follows a Vinter index that focuses on DeFi (decentralized financial) apps and layer-1 blockchains, with each component accounting for half of the benchmark. Both kinds of assets are ranked by market capitalization and reweighted periodically. According to the company, 21Shares is the first issuer in Europe to introduce an ETP (exchange-traded product) based on a DeFi index. Investors can buy the goods across Europe, and 21Shares plans to cross-list them on other regional exchanges. This year, 21Shares has introduced several ETPs, including those focusing on Aave (AAVE), Chainlink (LINK), and Uniswap (UNI). CEO Hany Rashwan stated earlier this year that the company plans to serve the top 50 cryptocurrencies by the end of the year. 21Shares recently introduced the first spot bitcoin and ether ETFs in Australia, while Carl Hagerup was hired to manage the company’s Nordic and Dutch operations. Accord...
