Swiss company 21Shares, one of Europe's leading issuers of crypto ETPs, has launched the first exchange-traded product (ETP) tracking the dYdX token.
This innovative product offers institutional investors regulated exposure to dYdX, a leading decentralized exchange (DEX) that has processed over $1.4 trillion in cumulative volume across more than 230 perpetual futures markets.
The physically backed ETP is supported by dYdX Treasury subDAO through kpk, a DeFi treasury manager.
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According to 21Shares, this creates a crucial gateway for traditional finance, as it allows institutions to access a leading DeFi protocol using familiar ETP infrastructure.
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A spokesperson also confirmed DYDX staking will soon be integrated with an auto-compounding feature, and that rewards will be used for token buybacks.