21Shares has expanded its crypto range with the launch of the world’s first ETP tracking the cosmos blockchain.
The 21Shares Cosmos ETP (ATOM) is listed on the SIX Swiss Exchange in Swiss francs, euros and US dollars with a total expense ratio (TER) of 2.5%.
ATOM will track cosmos, an ecosystem of parallel blockchains which includes ethereum and terra supporting a decentralised blockchain “empowering the early stages of the metaverse”.
The cosmos ecosystem includes decentralised finance infrastructure including financial tools such as wallets and smart contracts, as well as gaming applications.
The blockchain has so far integrated over 262 applications and has an estimated value of $155bn locked into the technology.
Using the InterBlockchain Communication protocol, cosmos is able to exchange value without surrendering their underlying assets.
The decentralised digital asset exchange creates a router between chains such as ethereum and bitcoin and acts as a custodian feature for digital assets.
Hany Rashwan (pictured), CEO and co-founder of 21Shares, said: “Cosmos has built a top platform that can empower everything from finance to the metaverse. We are thrilled to launch this product as we continue building widely accessible bridges into the crypto world.”
It is the second launch from the crypto issuer this year after it unveiled the world’s first terra ETP last week.
Last December, the firm also unveiled the 21Shares Crypto Mid-Market Index ETP (ALTS), tracking a basket of cryptocurrencies while excluding the two largest ethereum and bitcoin.