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21Shares Launches Cronos ETP to Offer Regulated Exposure to Web3 Infrastructure

Highlights:

  • 21Shares has introduced Cronos ETP for regulated exposure to the CRO token.
  • The Cronos ETP simplifies access to Web3 without handling crypto wallets.
  • The investment case for Cronos blockchain is its scalability, AI, and its emphasis on DeFi.

One of the largest crypto issuers of ETFs, 21Shares, has launched the Cronos ETP (CRON), a product that gives investors regulated exposure to the CRO token. This launch makes it easier for institutional and retail investors to engage with the Cronos blockchain, according to the statement. The ETP, listed on Euronext Paris and Amsterdam, provides a regulated way to buy CRO without the need for cryptocurrency web wallets or exchanges.

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Simplifying Web3 Access for Investors

Cronos blockchain is developed to operate decentralized finance, NFT and AI-driven applications of Web3. With interoperability at its core, it works seamlessly with the Ethereum and Cosmos networks. The feature allows for bridging of centralized and decentralized ecosystems via Cronos. With the launch of the Cronos ETP, 21Shares seeks to demystify Web3 for traditional investors.

Via this ETP, investors can access the CRO token via traditional brokers and banks. The product gets rid of barriers common to dealing directly with cryptocurrencies. According to the statement, the Cronos ETP has an annual management fee of 2.5% and allows investors the opportunity to gain exposure to a Web3 network for growth without holding digital assets directly.

Cronos’ Role in the Web3 Ecosystem

Cronos is a scalable Layer 1 blockchain that allows cheap and fast transactions. It provides DeFi protocols, NFTs, and Web3 tools through its decentralized application (dApp) ecosystem. Cronos was built with a multi-chain topology, bridging Ethereum and Cosmos. This kind of setup improves cross-chain communication, therefore making it a formidable player in Web3 infrastructure.

Cronos has experienced significant adoption since 2021. Over 500 ecosystem partners and more than 100 million users globally reportedly use it. Furthermore, the platform has dealt with more than 100 million transactions and secured over $6 billion in assets. The blockchain still continues to grow in various ways, with one of the plans of integrating artificial intelligence (AI) into the operations of the gaming and business sectors.

The Strategic Collaboration Between 21Shares and Crypto.com

21Shares has partnered with Crypto.com, a longstanding partner and supporter of the Cronos ecosystem, to bring this ETP to market. The strategic alliance offers investors simple and secure access to Cronos and its native CRO token. Crypto.com’s president and COO, Eric Anziani, stressed that the collaboration is a crucial effort to mainstream crypto investments.

The aim of this partnership, as stated by the companies, is to bridge the gap between existing finance and the emerging Web3. As a future-proof investment option, the Cronos ETP simplifies how investors will interact with the blockchain. With blockchain technology entering the mainstream, products like this ETP open the door to more investors without needing to manage their own digital wallets.

Demand for decentralized infrastructure is still rising and therefore, to further diversify a portfolio, the Cronos ETP offers a unique opportunity. The regulated nature of the product keeps the investor confident, aligning with the ever-changing market trends. Moreover, this ETP also signifies a wider trend in attempting to make Web3 assets available within traditional financial systems.

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