On 12 January 2022, SIX Swiss Exchange-listed 21Shares AG’s Terra-based cryptocurrency exchange-traded funds (ETFs).
Terra (ISIN: CH1145931015, Ticker: LUNA) is the world’s second-largest blockchain ecosystem in terms of total value (TVL). Using the TVL metric, we can describe the amount of staked assets in a blockchain system.
Additionally, investors in 21Shares Terra ETP can use a non-Ethereum based ecosystem to diversify their holdings (EVM).
About Terra
TicketMonster co-founder Daniel Shin and Do Kwon, a former Microsoft and Apple software developer, created Terraform Labs in 2018.
Note that the Terra ecosystem contains DeFi (Decentralized Finance) infrastructure, financial tool apps, and NFT solutions. Importantly, Anchor is the ecosystem’s most significant technological advancement. Furthermore, Anchor protocol investors who have borrowed and lent solutions can expect to earn big returns over time.
Terra’s blockchain technology enables up to 10,000 transactions per second, with each transaction lasting only two seconds. Unlike Bitcoin, which processes transactions at a pace of 15-30 per second, Ethereum takes almost a minute for each transaction. The final aspect to mention is that transaction costs are quite low.
Naturally, Terra’s development and traction have impressed 21Shares CEO Hany Rashwan. According to Rashwan, it’s an honor to be the first exchange-traded product (ETP) to follow this groundbreaking finding.
In January 2022, 21Shares listed 83 cryptocurrencies worth over $2 billion. In fact, this includes the world’s sole Binance ETF, four cryptocurrency index baskets, and two ETPs that compensate investors for staking bitcoin (Tezos and Solana). Also, eleven licensed European and Swiss markets trade its products.
21Shares: What about it?
In 2018, it pioneered the world’s first cryptocurrency index listing on the SIX Swiss Exchange.
Besides, to make bitcoin trading available to all investors using their existing bank and brokerage accounts, 21Shares created the service. Moreover, 21Shares and other parties to issue and operate cryptocurrency exchange-traded products (ETPs) worldwide, including the United States, use Onyx.
