CRO Price fell almost 2% despite 21 shares launching the new Cronos Exchange-Taded product. ETP will be live on the EuroNext Paris and EuroNext Amsterdam exchanges. Chronos prices are struggling amid the wider market slump.
Crypto Asset Manager giant 21Shares has launched a new Exchange-Traded product (ETP) tied to Cronos, a layer-1 blockchain network developed by Cronos.
The purpose of this move is to provide investors with regulated exposure to Cronos' native token CROs without complicating digital wallet management or crypto exchange navigation.
The announcement, shared by X's Cronos, highlights the growth trends of key asset managers who integrate cryptocurrencies into the traditional financial system.
Many of these have recently appeared in the market via exchange-sold products.
Investment vehicles provide a bridge for investors looking for exposure to the rapidly evolving Web3 ecosystem.
21Shares announces the release of Cronos ETP
Exchangeable products like ETPS have become a popular means of investors being exposed to cryptocurrency without directly owning them.
ETP products traded on regulated stock exchanges track the performance of underlying assets, such as $CROs, and are accessible through traditional brokers and banks.
The launch of 21Shares Cronos ETP is consistent with an increased wider market acceptance for crypto-based ETFs.
Traded under Ticker Cronos ETP, the 21 Shares Cronos ETP is live in Euronext Paris and Euronext Austerdam, as confirmed by both 21 Shares and Cronos.
With an annual fee of 2.5%, the ETP allows investors to seamlessly add $CRO to their portfolios.
This product eliminates the need for independence, a common barrier for traditional investors who are hesitant to directly engage with cryptocurrencies.
At launch, Zurich-based company 21Share has already continued to expand its suite of crypto-related ETPs, including a variety of cryptocurrencies.
The company is also making progress in the US.
I recently submitted an S-1 registration form to SUI ETF and participated in many other fund applications before the SEC.
Experts believe regulators will approve some ETFs by the end of the year.
Performance of CRO prices amid market trends
Despite positive news, the price of $CRO has dropped slightly, with Altcoin's price falling by nearly 2% in the last 24 hours at the time of writing.
This move coincides with the performance of the broader cryptocurrency market over the past 24 hours.
Bitcoin, which rose to $97,000 over the weekend, had fallen to nearly $93,000 as stocks struggled amid tariff uncertainty.
Cro Price could be even more immersed in this outlook. However, the launch of ETP could still cause fresh optimism within the Chronos community, leading to higher CROs.
