- CRO price was down nearly 2% despite 21Shares’ launch of a new Cronos exchange-traded product.
- The ETP is live on the Euronext Paris and Euronext Amsterdam exchanges.
- Cronos’ price has struggled amid the broader market downturn.
21Shares, a leading crypto asset manager, launched a new exchange-traded product (ETP) tied to Cronos, a Layer 1 blockchain network developed by Crypto.com.
This move aims to provide investors with regulated exposure to Cronos’ native token, CRO, without the complexities of managing digital wallets or navigating crypto exchanges.
The announcement, shared by Cronos on X, highlights a growing trend of major asset managers integrating cryptocurrencies into traditional financial systems.
Many of these have recently hit the market via exchange-traded products.
The investment vehicles offer a bridge for investors seeking exposure to the fast-evolving web3 ecosystem.
21Shares announces Cronos ETP launch
Exchange-traded products like ETPs have become a popular vehicle for investors to gain exposure to cryptocurrencies without directly owning them.
ETP products, traded on regulated stock exchanges, track the performance of underlying assets like $CRO and are accessible through conventional brokers and banks.
The launch of the 21Shares Cronos ETP aligns with the broader market’s increasing acceptance of crypto-based ETFs.
The 21Shares Cronos ETP, trading under the ticker CRON, is now live on Euronext Paris and Euronext Amsterdam, as confirmed by both 21Shares and Cronos.
With a 2.5% annual fee, the ETP allows investors to add $CRO to their portfolios seamlessly.
This product eliminates the need for self-custody, a common barrier for traditional investors hesitant to engage with cryptocurrencies directly.
The launch sees 21Shares, a Zurich-based firm, continue to expand its suite of crypto-linked ETPs, which already includes various cryptocurrencies.
The company has also been making strides in the US.
Recently, it filed an S-1 registration form for an SUI ETF, joining many other fund applications before the SEC.
Experts believe the regulator will approve several of the ETFs before the end of the year.
CRO price performance amid market trends
Despite the positive news, the price of $CRO experienced a slight decline, with the altcoin’s price down nearly 2% in the past 24 hours at the time of writing.
This movement aligns with the broader cryptocurrency market performance in the past 24 hours.
Bitcoin, which rose to highs of $97k over the weekend, was down to near $93k as stocks also struggled amid tariff uncertainty.
CRO price could dip further amid this outlook. However, the launch of the ETP may yet spark fresh optimism within the Cronos community, helping CRO higher.
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