Home Business Crypto Firm 21Shares Lists Bitcoin Exchange-Traded Product on Nasdaq Dubai

Crypto Firm 21Shares Lists Bitcoin Exchange-Traded Product on Nasdaq Dubai

Middle East’s first physically backed bitcoin ETP by 21Shares AG

Crypto investment products firm 21.co said on Wednesday that its subsidiary 21Shares AG has listed a bitcoin exchange-traded product on Nasdaq Dubai, making it the Middle East’s first physically backed bitcoin ETP.

The 21Shares Bitcoin ETP trades under the ticker ABTC, just like the 21Shares Bitcoin ETP in Europe, 21.co said in a statement.

Dubai has ambitions to become a global cryptocurrency hub and has attracted big industry players to set up shop like Binance, which it recruited in the UAE this year to shape the Middle East commercial hub’s virtual asset regulations. helping in.

Following the Dubai listing, 21Shares has 46 listed products in seven countries, 21.co added.

Swiss-based 21.co raised $25 million last month in a funding round that was valued at $2 billion, making it “Switzerland’s largest crypto unicorn.”

The cryptocurrency market has suffered, forcing some of its biggest players to lay off thousands of employees to cut costs.

But Sheriff Al-Haddad, who was appointed 21Shares head of the Middle East in August, was upbeat, saying that cryptocurrencies are “becoming the asset of the future for investors and wealth managers around the world”.

The Middle East and North Africa are the world’s fastest-growing cryptocurrency regions, with crypto volume rising 48% in June, blockchain researcher Chainalysis said in a report last week.

Honey Rashwan, CEO and co-founder of 21Shares, said in the statement that the company will “continue to support the Middle East’s ambitions to become a global crypto hub”.

RELATED ARTICLES

Here’s Why Maruti Is Not Joining The EV Race

<!-- -->Over the weekend, I was reading a blog by one of my favorite authors, Morgan Hosel. I came across an interesting conversation...

PSU stocks in limelight as BHEL, PFC and REC hit record highs

<!-- -->Railway stocks rallied as they would benefit from increased government spending. (File)New Delhi: There is a boom in the shares of public...

sebi cuts the deadline for dividend payment to mutual fund unit holders

<!-- -->SEBI cuts the timeline for dividend payment by AMCs to unit holders. (File)New Delhi: Capital markets regulator Securities and Exchange Board of...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Lionel Messi’s Thunderous Strike That Helped Argentina Keep World Cup Hopes Alive. Watch | football news

Lionel Messi's dream of matching late great Diego Maradona's Argentina legacy lives on. The seven-time Ballon d'Or-winning forward pulled level with Maradona on...

Lionel Messi On Target As Argentina Beat Mexico To Keep World Cup Hopes Alive | football news

Lionel Messi helped keep Argentina's World Cup bid alive with the first goal in a 2-0 victory over Mexico on Saturday. Defeat to...

The United Nations condemned the cruel punishments, the Taliban got angry, said ‘insult to the religion of Islam’

United Nations On Physical Punishment: A few weeks back a woman in Afghanistan had hanged herself to avoid punishment by the Taliban. The...

Baloch terrorists threatened Pakistan police, officers retreated from six police stations

Islamabad : A gang of dreaded criminals under the umbrella of a banned terrorist group in Pakistan on Friday threatened to attack six police...

Recent Comments