21Shares has launched the “world’s first physically powered’ ETPs for Cardano (ADA), SOL and DOT at SIX Swiss Exchange. Also, according to Ripple sources, 21Shares is also launching its XRP ETP on the SIX Swiss Exchange.
Cardano, SOL, DOT and XRP ETP launch
On Thursday, March 10, Switzerland-based 21Shares, considered one of the pioneers in issuing crypto exchange-traded products (ETPs), announced the launch of seven new products on the SIX Swiss Exchange. cryptocoin.comAs we previously reported in , Zurich-based SIX Swiss Exchange is the main exchange in Switzerland. ETPs are “collateralized, non-interest-paying debt securities designed to replicate the performance of an underlying asset. According to a tweet published earlier today, ETPs for the following cryptoassets are now available on the exchange: ADA, SOL, and DOT.
21Shares, considered one of the pioneers in the issuance of cryptocurrency exchange-traded products (ETPs), also announced the launch of a Swiss Franc-denominated XRP ETP on the SIX Swiss Exchange. This exchange trades other securities such as Swiss government bonds and derivatives such as stock options. 21Shares’ physically backed XRP ETP is being touted as the “world’s first Ripple ETP”. The product holds 76.7 million XRP in it and has close to $55 million in assets under management, according to CryptoCompare’s February 2022 Asset Report.
XRP and SEC lawsuit
21Shares’ XRP expansion comes with the launch of seven new products on the exchange, including the “world’s first physically backed” ETPs for Cardano (ADA), Solana (SOL), and Polkadot (DOT). The Firm states that ETPs are different from exchange-traded funds (ETFs) in that they are “Special Purpose Vehicle (SPV)-issued debt securities.” The expansion of the product comes after reports suggesting that SEC commissioner Hester Pierce believes the regulator’s lawsuit against Ripple over the XRP token will not achieve the results it seeks.
The SEC’s lawsuit against Ripple and its two executives alleges that they “raised more than $1.3 billion through an unregistered, ongoing digital asset security offering.” After the lawsuit was announced, it had a negative impact on the XRP price, as most cryptocurrency exchanges started delisting the token to avoid any impact affecting its liquidity. An anonymous source close to the SEC reportedly stated that Peirce privately expressed his belief that the SEC would not receive a positive outcome from the case. According to legal expert Jeremy Hogan, Ripple’s lawyers expect the case to end between August 26 and November 18 this year.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.