21Shares Debuts World's First dYdX ETP for European Investors
21Shares Launches World’s First dYdX-Backed ETP
Switzerland-based crypto investment firm 21Shares has launched the world’s first exchange-traded product (ETP) backed by dYdX, a leading decentralized exchange specializing in perpetual futures trading. The 21Shares dYdX ETP is now available to European investors through traditional banking and brokerage channels.
Simplified DeFi Exposure for Traditional Investors
This launch marks a significant step in bridging decentralized finance (DeFi) with conventional markets. The ETP allows investors to gain exposure to the DYDX token without the complexities of managing crypto wallets or directly interacting with decentralized platforms.
The DYDX ETP is 100% physically backed by actual DYDX tokens. It aims to mirror the token's performance, providing a straightforward way to invest in the dYdX ecosystem. The ETP trades under the ticker DYDX and carries a 2.5% management fee. Its ISIN is CH1454621793.
dYdX: A Powerhouse in Decentralized Derivatives
dYdX has established itself as a prominent decentralized perpetual futures exchange since its inception. Key statistics include:
- Over $1.4 trillion in total trading volume
- More than 230 perpetual markets listed
- Over 15,000 weekly active traders
- $7.7 billion in trading volume in July alone
Notably, dYdX generates real revenue in USDC, distributing it to users—a contrast to projects reliant on inflationary token models. To date, over $50 million in USDC has been paid out, enhancing the ecosystem’s stability and reinforcing DYDX as a potential long-term investment.
Institutional-Grade Access to dYdX
21Shares is collaborating with kpk, a DeFi treasury manager operating within the dYdX Treasury subDAO, to manage the ETP. This decentralized backing ensures transparency and trustworthiness, relying on the actual token economy rather than synthetic exposure.
DYDX is 21Shares' fourth crypto ETP offering in Europe. With approximately $11 billion in total assets under management, 21Shares continues to expand access to digital assets. Mandy Chiu, Head of Financial Product Development at 21Shares, noted dYdX's strong performance in the DeFi market, capturing over 20% of the $7.2 trillion traded in decentralized perpetuals.
The 21Shares dYdX ETP aims to provide individual and institutional investors with easier access to the evolving DeFi landscape, showcasing 21Shares' commitment to offering innovative financial instruments.