21Shares Launches Physically-Backed Avalanche ETP

AVAX Tracks the Performance of Native AVAX Tokens

100% Physically Backed by Avalanche Tokens

21Shares AG, a leading provider of crypto exchange-traded products (ETPs), has announced the launch of its latest product, the 21Shares Avalanche ETP (AVAX). The ETP is the first physically-backed Avalanche ETP to be listed on a regulated stock exchange, providing investors with a secure and convenient way to gain exposure to Avalanche's native AVAX token.

The 21Shares Avalanche ETP is fully backed by physical AVAX tokens held in custody by Coinbase, one of the world's largest cryptocurrency exchanges. This structure ensures that the ETP's value is directly linked to the underlying value of AVAX, providing investors with transparency and security.

Commenting on the launch, Hany Rashwan, CEO of 21Shares, said: "We are thrilled to launch the first physically-backed Avalanche ETP. Avalanche is one of the most exciting and innovative blockchain projects in the market, and we believe that our ETP will provide investors with a safe and easy way to access this rapidly growing ecosystem."

The 21Shares Avalanche ETP is listed on the SIX Swiss Exchange under the ticker AVAX. It is available to investors in Switzerland and other select European markets.

Conclusion

The launch of the 21Shares Avalanche ETP is a significant milestone for the Avalanche ecosystem, providing investors with a new and convenient way to gain exposure to AVAX. As the demand for institutional-grade crypto products continues to grow, 21Shares remains at the forefront of innovation, offering investors access to the latest and most promising blockchain projects.