2024-11-02
21Shares is a Swiss-based financial technology company specializing in cryptocurrency exchange-traded products (ETPs). Founded in 2018, it offers the world's largest suite of crypto ETPs, making cryptocurrency investing more accessible to both institutional and retail investors.
sec.gov/Archives/edgar/data/2028835/000121390024093305/ea0219336-01.htm
On November 1, 2024, 21Shares has filed
a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to list and
trade shares of its Core XRP Trust on the Cboe BZX Exchange.
This ETF aims to provide investors with
indirect exposure to XRP, rather than holding the tokens directly. The Coinbase
Custody Trust Company will act as the custodian for the XRP held by the trust.
This application comes amid ongoing
legal disputes between the SEC and Ripple Labs over whether XRP should be
classified as a security. Despite the regulatory challenges, 21Shares is
pushing forward with its application. 21Shares is the third firm to apply for
XRP ETFs, joining other firms like Bitwise and Canary Capital in seeking
approval for XRP ETFs.
