21Shares lists physically-backed Bitcoin ETP on Nasdaq Dubai
21Shares AG, an issuer of cryptocurrency exchange traded products (ETPs), today announced its launch in the Middle East – introducing the first physically-backed bitcoin ETP in the Middle East with the listing of 21Shares Bitcoin ETP (Ticker: ABTC) on Nasdaq Dubai.
The 21Shares Bitcoin ETP is listed on Nasdaq Dubai, accompanied by a bell ringing ceremony, the region’s international exchange, and trades in the same way as the 21Shares Bitcoin ETP in Europe. With the addition of Nasdaq Dubai, 21Shares lists 46 products across 12 exchanges in 9 countries.
“Our expansion into the UAE is a major milestone in 21Shares’ international growth plans. Coming from the Middle East myself, the region is exceptionally important to me and, as a company, we are committed to providing regional investors with safe and secure access to cryptocurrency-backed products,” said Hany Rashwan, CEO and co-founder of 21Shares. “Our partners Nasdaq Dubai and Dubai Financial Market share our vision to provide investors with access to new and exciting asset classes. 21Shares will continue to support the Middle East’s ambitions to become a global crypto hub.”
Today’s news follows the recent appointment of Sherif El-Haddad, who joined 21Shares in August this year as Head of Middle East.
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said:
“We are pleased that 21Shares has selected Nasdaq Dubai to list its ETP. This is another testament to Dubai’s open, progressive, and innovation-first approach. Streamlining investors’ access to diversified asset classes is a key pillar in Nasdaq Dubai’s endeavor to attract further investments and stimulate active engagement from various market participants. Nasdaq Dubai’s world-class infrastructure, broker network and regulatory-focused approach offers fund managers the right environment to bring their products to market.”
Today’s announcement follows the launch of 21Shares parent company, 21.co – and its recent $25 million fundraising round which made the company Switzerland’s largest crypto unicorn.