Crypto.com's native cryptocurrency, CRO, receives investment exposure via a new ETP launched by 21Shares.
In a groundbreaking move, 21Shares has introduced a brand-new exchange-traded product (ETP), giving investors a regulated pathway to dive into the Cronos blockchain and its CRO token. This exciting development comes with a 2.5% management fee and is now available under CRON on Euronext Paris and Amsterdam.
According to a recent release, this ETP is designed to simplify investments in emerging Web3 infrastructure, especially since Cronos is a Layer 1 blockchain tailored to support decentralized finance, NFTs, and AI-integrated Web3 applications.
Cronos, currently hovering at 1.69% cro-1.69%, is more than just a coin; it's the driving force behind the Crypto.com chain – a blockchain network that boasts interoperability with both Ethereum and Cosmos. By bridging the gap between centralized and decentralized ecosystems, Cronos aims to reshape the landscape of the digital world.
Crypto.com continues to play a significant role in Cronos' growth, providing essential support as a key contributor. Mandy Chiu, Head of Financial Products Development at 21Shares, expressed her enthusiasm, describing Cronos as "uniquely positioned at the intersection of centralized access and decentralized innovation."
Eric Anziani, President and COO of Crypto.com, echoed her sentiments, emphasizing that the collaboration is part of a broader attempt to make cryptocurrency investments more accessible.
In a recent turn of events, Cronos' price experienced a surge in March, following a successful vote to create Strategic Reserves and a new proposal to burn 50 million CRO tokens. Although the passing of the vote reversed a previous burn, leading to concerns about dilution, it was countered by the developer's decision to burn 50 million CRO from the community pool.
With this launch, 21Shares is expanding its portfolio of crypto ETPs, targeting investors seeking regulated instruments tied to blockchain ecosystems. Traditional banks and brokers now provide a simpler route for users to gain CRO exposure without dealing with digital assets directly.
In other news: On a starkly contrasting note, the UK has made it clear that Bitcoin reserves are not deemed suitable for their market. Citing the lack of appropriate infrastructure, Bitcoin's integration into traditional financial systems remains a work in progress.
References:
- [1] CoinMarketCap (2023) Cronos (CRO) Price, Chart, Info
- [2] CryptoNews (2023) CRO Price Forecast: Will Cronos Reach $1 by 2031?
- [3] Release (2023) 21Shares Lists Cronos ETP on Euronext Paris and Amsterdam
- [4] Investopedia (2023) CRO Token: Comprehensive Guide to CRO’s Future Potential
- [5] Fortune (2023) Cryptocurrency Price Predictions: What to Expect from Top Coins in 2025
- The new exchange-traded product (ETP) by 21Shares, dubbed CRON, opened a regulated pathway for investors to delve into the Cronos blockchain and its CRO token, accompanied by a 2.5% management fee.
- This ETP not only simplifies investments in emerging Web3 infrastructure but also focuses on Cronos, a Layer 1 blockchain supporting decentralized finance, NFTs, and AI-integrated Web3 applications.
- Cronos, currently at 1.69% cro, is more than just a coin; it serves as the driving force behind the Crypto.com chain, a network interoperable with both Ethereum and Cosmos, aiming to bridge the gap between centralized and decentralized ecosystems.
- Mandy Chiu, Head of Financial Products Development at 21Shares, described Cronos as "uniquely positioned at the intersection of centralized access and decentralized innovation."
- Eric Anziani, President and COO of Crypto.com, supported this sentiment, emphasizing that the collaboration was part of an effort to make cryptocurrency investments more accessible.
- In a recent development, Cronos' price surged in March, partly due to a successful vote to create Strategic Reserves and a proposal to burn 50 million CRO tokens, despite concerns about dilution being countered by the developer's decision to burn 50 million CRO from the community pool.
- Meanwhile, the UK has yet to deem Bitcoin reserves suitable for their market, citing insufficient infrastructure as the reason for slow integration into traditional financial systems.
- 21Shares' launch of CRON ETP is a strategic move to increase the accessibility of blockchain ecosystems to a wider audience, offering regulated instruments for investors seeking exposure to CRO without dealing with digital assets directly.
- While Ethereum continues to dominate the NFT sector, other blockchain projects like Cronos, XRP, and DEX-based networks are also vying for recognition in the rapidly evolving landscape of crypto finance and investing technology.
- With the increasing popularity of NFTs and the continual growth of the crypto market, platforms offering Initial Coin Offerings (ICO) like Waves, Binance, and ethereum's Ethereum Request For Attention (ERC-20) tokens continue to attract investors seeking the next big cryptocurrency investment opportunity.
