Cryptocurrency specialist 21Shares has expanded its range with the launch of the mid-cap crypto ETP.

The 21Shares Crypto Mid-Market Index ETP (ALTS) is listed on the SIX Swiss Exchange with a total expense ratio (TER) of 2.5%.

ALTS will track the Vinter 21Shares Crypto Mid-Cap index, also launched today, which excludes the top two crypto assets by market capitalisation, currently bitcoin and ethereum.

As a result, the index will have a diverse exposure to the asset class with a “substantially” larger weight to the remaining eight cryptocurrencies.

These comprise of binance coin (31.1%), solana (17.6%), cardano(16.5%), ripple (14.3%), polkadot (10%), litcoin (3.8%), polygon (3.5%) as well as "bitcoin cash" (3.3%).

Commenting on the launch, Hany Rashwan, CEO and co-founder of 21Shares said: “We are very excited to launch our first mid-cap crypto index ETP and expand our product range to 21 total ETPs by the end of 2021.

“This is an important milestone in our product roadmap, following the launch of the world's first crypto ETP on the regulated SIX exchange in Switzerland in 2018.”

The launch caps off a productive year for 21Shares in which it has almost doubled its product range.

Last month, the group launched three ETPs and Europe’s first polygon, avalanche and algorand ETPs.

In September, 21Shares launched a six-strong ETP range consisting of the 21Shares Cardano ETP (AADA), the 21Shares Polkadot ETP (ADOT), the 21Shares Stellar ETP (AXLM) and the 21Shares Tezos ETP (AXTZ) all with total expense ratios (TERs) of 2.50%.

The launch also includes the 21Shares Crypto Basket Index ETP which offers exposure to bitcoin, polkadot, ethereum, cosmos and cardano.

In June, the firm unveiled the world’s first solana ETP, the 21Shares Solana ETP (ASOL), on the SIX Swiss Exchange.

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