21Shares, a provider of physically-backed crypto exchange-traded products (ETPs), intends to launch three ETPs based on Polygon, Avalanche and Algorand tokens. The instruments will be traded on SIX Swiss Exchange, the largest Swiss stock exchange.
The listing of the 21Shares Polygon ETP will take place on November 18, of the 21Shares Avalanche ETP on November 19 and of the 21Shares ETP Algorand on November 23. 21Shares co-founder and CEO Hany Rashwan said:
"Adding Polygon, Avalanche and Algorand to our already extensive range of single-asset ETPs provides another simple and easy option for investors to enter the crypto asset class."
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As of November, 21Shares' assets under management amounted to almost $3 billion. In February, the company announced it had surpassed the $1 billion mark.
The number of 21Shares cryptocurrency ETPs has now reached 20. In total, these have been listed 80 times and are listed on eight regulated European exchanges.