Recommended
21Shares Introduces Metaverse ETP via Sandbox’s SAND Token
The launch marks 21Shares’ 30th cryptocurrency ETP offered and will be cross-listed on Euronext Paris and Amsterdam.
21Shares, a Switzerland-based crypto exchange-traded product (ETP) issuer, has launched a new vehicle focused on the SAND token to give investors exposure to The Sandbox’s metaverse and gaming platform.
ETPs are a popular way for institutional investors to bet on cryptocurrencies and blockchain projects. Banks including Goldman Sachs (GS), ICAP, JPMorgan (JPM)and UBS (UBS) have all bought ETPs for an increasing number of clients.
The Sandbox platform, built on Ethereum, is a decentralized virtual world where participants can monetize assets and gaming experiences. Through the ETP, investors will be able to capitalize on the growth of The Sandbox in a secure way, according to the press release.
In February, 21Shares launched its Decentraland ETP involving its MANA token. Hany Rashwan, CEO and co-founder of 21Shares, suggested that for this ETP it chose The Sandbox over other metaverse platforms because of investor demands for more access to opportunities beyond Bitcoin and Ethereum.
“The metaverse is one of the most pre-eminent themes within crypto at the moment, with [SAND] in particular showing strong growth to become the best performing blue-chip metaverse token,” said Rashwan.
The launch marks 21Shares’ 30th cryptocurrency ETP offered and will be cross-listed on Euronext Paris and Amsterdam. 21Shares has close to $3 billion in Assets under Management (AUM) and has over 130 listings, including the world’s only ETP tracking Binance, according to the press release.
The launch comes after SAND, the native token of The Sandbox platform, has dropped 40% in the past three months. Other metaverse-related tokens including MANA and Axie Infinity’s AXS are also down for the year to date, significantly underperforming bitcoin (BTC).
Register now to begin your crypto journey
Download the BTCC app via App Store or Google Play
Follow us
Scan to download
- Terms & Agreement
Quick Links
Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
The world’s longest-running cryptocurrency exchange since 2011 © 2011-2024 BTCC.com. All rights reserved