21Shares, a leading crypto ETP issuer, is slashing the management fee for its Bitcoin Ethereum Core ETP, ABBA, by 0.49%. This move comes as the product prepares to debut on Deutsche Börse’s Xetra platform.
ABBA is fully backed by Bitcoin and Ethereum, two major cryptocurrencies. It’s stored in top-tier custody for safety. Starting March 12, the reduced fee aims to make ABBA more affordable and accessible for investors.
Xetra is a major trading platform for exchange-traded products. Listing ABBA on Xetra will boost liquidity and accessibility for European investors.
Mandy Chiu, Head of Financial Product Progress at 21Shares, said, “Lowering fees and listing on Xetra makes Bitcoin and Ethereum more accessible through a trusted, regulated investment vehicle.”
Last November, 21Shares launched four crypto-backed ETPs in Europe. These were linked to Pyth Network, Ondo, Render, and Near Protocol. The NEAR ETP lets investors reinvest staking rewards.
Recently, 21Shares filed an S-1 submission for a Polkadot spot ETF with the U.S. SEC.This is an updated version of their initial application from January.
