21Shares launches two cryptocurrency index funds, offering exposure to various tokens such as Bitcoin and Dogecoin.
TL;DR
21Shares has launched two cryptocurrency index ETFs, TTOP and TXBC, offering exposure to top cryptocurrencies like Bitcoin and Dogecoin. These are among the first such ETFs registered under the Investment Company Act of 1940.
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According to ChainCatcher, The Block reports that cryptocurrency ETF provider 21Shares has launched two cryptocurrency index ETFs, giving investors access to Bitcoin, Solana, Ethereum, and Dogecoin.
On Thursday, the company launched the 21Shares FTSE Crypto 10 ETF (TTOP) and the 21Shares FTSE Crypto 10 ETF (excluding Bitcoin) (TXBC), both among the first cryptocurrency index ETFs registered under the Investment Company Act of 1940. TTOP has a management fee of 0.5% and tracks a market capitalization-weighted index of the 10 largest cryptocurrencies; TXBC has a management fee of 0.65% and invests only in cryptocurrencies and blockchain networks with "real-world applications beyond Bitcoin macro hedging." The announcement indicates that these two ETFs were launched jointly by 21Shares and advisory firm Teucrium.