21Shares Debuts Cronos ETP in US Amid Altcoin Fund Frenzy

 -21Shares debuted Tuesday a fund tracking the price of Cronos to US investors.  -Cronos is a Crypto.com-backed altcoin that enables users to interact with decentralised finance platforms, NFTs, and Web3 applications. -Issuers have increasingly are aiming to offer altcoin-based funds to investors in the U.S.Investment firm 21Shares debuted an exchange-traded product on Tuesday tracking the price of Cronos—the latest addition to a growing list of proposed or recently launched altcoin-based investment offerings in the U.S., according to the company’s public statement.The ETP gives investors exposure to Cronos, without requiring them to directly hold the asset, with the goal of facilitating investmentsCronos is the native token of Cronos was recently trading at $“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,” 21Shares financial products development head Mandy Chiu said in the statement. The debut of 21Shares’ Cronos ETP comes as issuers flood federal regulators in the U.S. with applications for a variety of altcoin-based funds amid evidence of widening investor appetite for investment vehicles tracking the prices of popular cryptocurrencies. Approved last year, spot bitcoin ETFs now manage more than $100 billion in assets, while funds based on Ethereum control over $7 billion in AUM, , according to It also comes as Cronos gains traction with asset managers. In March, U.S. President Donald Trump’s financial-technology companyEdited by James Rubin