- 21Shares launched a new exchange-traded product for Cronos, offering U.S. investors exposure to the altcoin without direct ownership.
- Cronos is the native token of crypto.com and supports decentralized finance, NFTs, and Web3 applications.
- The move follows growing U.S. interest in altcoin-based funds alongside the recent expansion of spot Bitcoin and Ethereum ETFs.
21Shares released an exchange-traded product (ETP) on Tuesday that tracks the price of Cronos, making it available to investors in the United States. This offering is designed to provide market participants with access to Cronos without the need to directly purchase or store the underlying cryptocurrency, according to the company’s statement.
The ETP aims to help investors participate in the Cronos blockchain ecosystem, which focuses on advancing real-world adoption of crypto technologies. 21Shares stated that this product will let investors benefit from the growth of Web3 infrastructure while maintaining regulatory oversight. Cronos is the native digital asset of Crypto.com, allowing users to interact with decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), and Web3 tools. The token operates across both the Ethereum and Cosmos blockchains.
“By launching a Cronos ETP, we are offering investors easy, regulated exposure to a blockchain ecosystem that is driving real-world adoption and pioneering the future of Web3,” said Mandy Chiu, financial products development head at 21Shares in an official statement. As of the latest data provided by CoinMarketCap, Cronos was trading at $0.09, down 1.5% within the past 24 hours.
The debut of this ETP comes while U.S. regulators are reviewing numerous applications for new altcoin-based funds, reflecting increasing demand from investors for diversified crypto assets. According to CoinGlass, spot Bitcoin exchange-traded funds (ETFs) now control over $100 billion in assets, while Ethereum-based funds hold upwards of $7 billion. The Securities and Exchange Commission has recently shown a more favorable stance toward approving such products, and several market participants seek similar approvals for funds tied to tokens like Solana, AVAX, and Sui.
Interest in Cronos has also risen among asset managers. In March, Trump Media and Technology Group, the financial-technology firm linked to U.S. President Donald Trump, announced plans to create ETFs tracking the prices of tokens like Cronos and Bitcoin, collaborating with Crypto.com. Following this news, CoinGecko data indicated that Cronos experienced a 30% price jump to $0.10.
For additional company statements, visit the 21Shares press release.
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