In a move that is set to shake up the cryptocurrency investment landscape, 21Shares recently announced the launch of the world’s first Polkadot (DOT) exchange-traded product (ETP), expected to list on the Swiss SIX exchange on February 4, 2021. Talk about a showstopper!

What’s Hot? The DOT ETP

Following the inclusion of Polkadot in its flagship Crypto Basket ETP (HODL) on January 29, 2021, this new product builds momentum in the crypto ETP space. Why the sudden hype around Polkadot, you ask? Well, it’s being viewed as a serious contender among elite cryptos like Bitcoin (BTC) and Ethereum (ETH), climbing the ranks to become the second-largest component in the HODL basket.

Polkadot’s Growing Footprint

• As of now, Polkadot accounts for about 27% of the HODL ETP, while Bitcoin remains the heavyweight with approximately 50%.
• Major exchanges are taking Polkadot seriously. The recent listing on the SIX exchange signifies its increasing acceptance.

The HODL ETP Dynamics

Despite adjustments in the crypto basket, it’s essential to note that the decision-making isn’t in the hands of 21Shares alone. A spokesperson clarified that movement of assets within the HODL ETP is dictated by MV Index Solutions, leaving 21Shares to focus on growth and market demands.

CEO Hany Rashwan: Optimism in the Air

21Shares CEO Hany Rashwan expressed a strong commitment to addressing institutional investors’ rising demand. “We have observed a natural progression from Bitcoin investments towards other crypto assets,” he revealed. With plans for two to three additional ETPs over the next three months, the excitement is palpable.

Polkadot’s Rising Star

Polkadot’s native token, DOT, recently surged past XRP to snag the title of the fourth-largest cryptocurrency. Currently priced at $16.82 and rising, it has experienced a staggering 82% increase over the past month alone. Who wouldn’t want a piece of that pie?

Conclusion: The Future Looks Bright

The introduction of the DOT ETP marks a significant milestone for 21Shares and highlights the growing appeal of Polkadot in the crypto market. With innovative products on the horizon, investors may soon find themselves with even more opportunities to explore across the blockchain realm. Buckle up—we’re in for an exciting ride!