Decentraland, FTX ETPs Launch in Switzerland

21Shares’ launch spree in Europe continues as firm looks to expand in US

article-image

Source: Shutterstock

share

key takeaways

  • Firm expects further growth of Decentraland and the broader metaverse sector as it predicts that users will continue to distrust Facebook
  • 21Shares CEO Hany Rashwan previously said the firm looks to launch ETPs, supporting what it considers to be the top 50 cryptocurrencies by the end of 2022

21Shares continues its product launching spree by bringing to market the first exchange-traded products (ETPs) focused on Decentraland (MANA) and FTX Token (FTT).

The products were set to begin trading on Thursday in Switzerland.

“Adding the world’s first NFT & single Metaverse ETP and one of the world’s leading crypto exchanges to our product suite is a key milestone for us in making crypto accessible for everyone,” 21Shares CEO Hany Rashwan said in a statement.

Decentraland is the first decentralized and user-owned virtual reality platform that allows users to create, experience and monetize content and applications.

MANA’s market capitalization is about $5.1 billion, according to CoinGecko. Its price of $3.35 was up 31% from seven days ago, as of noon ET on Thursday.

By launching a product with exposure to MANA, the firm is offering its clients access to the latest Web3 use case, a 21Shares spokesperson told Blockworks.

21Shares noted in its State of Crypto report published this week that the global augmented reality, virtual reality and mixed reality market is expected to reach roughly $300 billion by 2024, according to Statista.

The report adds that Ethereum-based virtual games Sandbox (SAND) and Decentraland rose by about 156,000% and 39,000% respectively in 2021.

“We anticipate that Decentraland and the metaverse sector is going to keep up with this adoption rate and awareness as users continue to distrust Facebook.”

Facebook parent Meta reported a loss of more than $10 billion from the company’s first forays into the metaverse during its latest earnings call.

Meanwhile, the 21Shares FTX Token ETP will invest in the token of crypto derivatives exchange FTX, which allows users to stake FTT, get trading fee discounts and participate in the community government voting.

“FTX Token is an attractive investment case, as it offers exposure to the third-largest crypto exchange in the world with over $2.5 billion in daily trading volume,” a 21Shares representative explained.

21Shares manages roughly $2 billion across 28 crypto ETPs and more than 100 listings.

The company most recently launched ETPs that have Aave (AAVE), Chainlink (LINK) and Uniswap (UNI) as underlying assets, also in Switzerland. Rashwan told Blockworks at the time that the firm aims to support what it considers to be the top 50 cryptocurrencies by the end of the year.

The firm evaluates new listings based on its trading metrics, team, investors, community and social reach, among other factors.

21Shares is also looking to build its presence in the US.

The firm hired Kayle Watson as its head of US sales in November, according to Watson’s LinkedIn page. Prior to joining 21Shares, he had spent about eight years at BlackRock, the world’s largest asset manager, serving as the director of its iShares institutional asset manager and hedge fund sales group.

“21Shares is looking to provide investors with the most innovative, physically-backed crypto ETPs and index solutions,” a spokesperson said. “Just as we have in Europe, where we’ve assembled the world’s largest product suite.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (1).jpg

Research

Jupiter has emerged as the undisputed liquidity backbone of Solana, commanding over 90% of spot DEX aggregation and 80% of perp trading volume. But behind the numbers lies a far more ambitious play: a cross-chain, vertically integrated super-app spanning swaps, synthetics, NFTs, memecoins, and launchpads. This report explores Jupiter’s rapid rise, the monetization upgrades reshaping its revenue profile, and the risks that could unwind its dominance, from token dilution to competition. With annualized revenues nearing $300M, the upside is undeniable, if it can navigate the turbulence.

article-image

Financial advisers in a January survey said equity ETFs were their top choice for gaining crypto exposure in 2025

article-image

“Why put a target out there that’s really speculative, not knowing exactly where this environment is going to go?” CarMax CEO Bill Nash said

article-image

While the head of Base may support legal sex work, Coinbase policies prohibit said workers from using its exchange.

article-image

EVM bottlenecks fundamentally hold back Ethereum’s scalability

article-image

In 2011, WikiLeaks faced a financial blockade imposed by the US government. It was Bitcoin’s first major test.

article-image

Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team