21Shares Launches The Middle East’s First Spot Bitcoin ETP

3 months ago 76

The spot bitcoin ETP volition commercialized connected the Nasdaq Dubai speech and marks 21Shares' entranceway into the increasing integer plus system of Dubai.

Financial services steadfast 21Shares has launched the archetypal physically-backed bitcoin speech traded merchandise (ETP) successful the Middle East, per a press release.

The ETP volition commercialized connected the Nasdaq Dubai speech nether ticker awesome ABTC akin to the spot bitcoin ETP the institution antecedently launched successful Europe.

“Coming from the Middle East myself, the portion is exceptionally important to maine and, arsenic a company, we are committed to providing determination investors with harmless and unafraid entree to cryptocurrency-backed products,” said Hany Rashwan, CEO and co-founder of 21Shares.

Furthermore, the motorboat of 21Shares’ spot bitcoin ETP follows the $25 cardinal rise of its genitor institution 21.co, which made it Switzerland’s largest “crypto unicorn”, per a press release.

21Shares offers 46 products connected 12 exchanges distributed crossed 9 countries, which makes it the largest supplier of ETPs backed by integer assets similar bitcoin successful the world.

Sherif El-Haddad, the precocious appointed caput of the Middle East for 21Shares, shared his thoughts connected offering the archetypal bitcoin ETP successful the region.

“Cryptocurrencies are accelerated becoming the plus of the aboriginal for investors and wealthiness managers astir the world, arsenic planetary crypto adoption and concern levels proceed to accelerate astatine gait – and the Middle East is simply a large accelerator of this growth,” said El-Haddad.

Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market besides commented connected the product, stating that this ETP continues to amusement the innovation of Dubai arsenic it continues toward its extremity of becoming a hub for bitcoin and cryptocurrencies.

“Streamlining investors’ entree to diversified plus classes is simply a cardinal pillar successful Nasdaq Dubai’s endeavor to pull further investments and stimulate progressive engagement from assorted marketplace participants,” said Ali. 

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