21Shares launch Polygon ETP on Swiss exchange SIX

By Joy Dumasia

21Shares AG, the world’s largest issuer of crypto ETPs, announces the seed funding of the 21Shares Polygon ETP on the SIX Swiss Exchange by the Polygon Foundation. The 21Shares Polygon ETP tracks the investment results of Polygon, an Ethereum scaling platform onboarding millions to Web3. Polygon has hosted more than 3,000 applications and has become the most popular full-stack Ethereum scaling solution due to its high speed, low transaction cost, and network composability.

The 21Shares Polygon ETP is accessible to any investor using a bank or broker that has access to the SIX Swiss Exchange with no particular additional set-up needed. The ETP is fully backed with the underlying crypto asset and is held in institutional-grade security and custody solution, using state-of-the-art cold storage and safety measures, including multiple private keys, whitelisting, and audit trails.

As of November 2021, 21Shares manages more than $2.9B in 18 cryptocurrency ETPs and 78 listings, including two new basket ETPs featuring the eligible top five and top ten crypto assets. 21Shares’ crypto ETP products are listed on eight regulated European and Swiss trading exchanges.

Hany Rashwan, Co-Founder and CEO of 21Shares, said: “Adding Polygon to our already expansive suite of single-asset ETPs delivers another simple and easy option for investors to enter the crypto asset class, and allows us to continue fulfilling our mission to build the simplest and most transparent way to access this asset class.”

Sandeep Nailwal, Co-Founder of Polygon, adds: “Around the world, there’s a growing number of private and institutional investors who are realizing the economy-wide transformation that’s underway as a result of NFTs and DeFi. With Polygon’s unique technology underpinning this crypto asset revolution, we anticipate the growth in terms of both investor interest and capital inflows to accelerate over the foreseeable future.”