21SHARES Solana SOL ETP (CH1114873776 | BBG: ASOL SW)
28 June 2021 - Zurich - 21Shares AG, the pioneering issuer of crypto Exchange Traded Products (ETPs) is launching the world’s first Solana (SOL) ETP (ticker: ASOL) on the regulated market of the Swiss stock exchange (SIX Exchange) on Wednesday, June 30th 2021 further boosting 21Shares as the leading issuer of crypto ETPs. The ETP will offer additional yield through staking rewards by validating transactions on the Solana blockchain which is dedicated to fostering active network participation (such as staking) in a secure, regulated and insured environment.
Solana (SOL) is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland headed by developer Anatoly Yakovenko. One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus. Solana is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s hybrid protocol allows for significantly decreased validation times for both transaction and smart contract execution. With lightning-fast processing times, Solana has attracted a lot of institutional interest as well. The Solana protocol is intended to serve both small-time users and enterprise customers alike. One of Solana’s main promises to customers is that they will not be surprised by increased fees and taxes. The protocol is designed in such a way as to have low transaction costs while still guaranteeing scalability and fast processing, key aspects to which the 21Shares’s Listing committee concluded to launch the underlying asset as an ETP.
Further insights and analysis of Solana can be found in a new research report published by the 21Shares research team.
Despite the recent volatility markets, 21Shares have gathered more than $55m in institutional net inflows in the month June alone across all its ETPs.
“Following an active review to extend our innovative and forward-thinking asset launches, we are on track to deliver more new ETPs demanded by clients and as a result we remain the market leading crypto ETPs issuer of choice. European institutions continue asking us for simple and effective access to these new blockchain technologies which we can deliver based on our successful track record. These new ETPs deliver what clients asked for and we expect to add 2 new crypto ETPs in the next months together with new listing and trading venues.” says Hany Rashwan, CEO 21Shares AG.
The SOL ETP will allow clients to diversify and gain exposure to this inspiring blockchain technology to which its native coin is currently ranked 14 on the CoinMarketCap. The ETP structure is 100% physically collateralised, segregated and replicates 1:1 the tracking of the crypto asset. Coinbase will assume custody and staking for SOL. Physical replication for ASOL aims to track the performance of SOL coin with each unit of the ETP backed by approx. 0.69 SOL at launch with a base fee of 2.5% p.a and will also be available on the Stuttgart and Dusseldorf MTFs. ASOL ETP will also provide additional yield through staking rewards by validating transactions on the Solana blockchain.
SWISS SIX : 21Shares Solana SOL ETP | CH1114873776 | WKN A3GSS0 | ASOL SW in USD | Kurzel 21XL in Euro
About 21Shares (www.21shares.com)
21Shares makes investing in crypto assets as easy as buying shares using your conventional broker or bank. Investors can invest in cryptocurrencies using a conventional ETP structure (or tracker) easily, with total confidence and security and cost-effectively thanks to the 21Shares suite of ETPs now composed of 14 Crypto ETPs : the 21Shares Crypto Basket Index ETP (HODL:SW), 21Shares Bitcoin (ABTC:SW | 21XB:GY), 21Shares Ethereum (AETH:SW | 21XE GY), 21Shares XRP (AXRP:SW | 21XX:GR), 21Shares Bitcoin Cash ETP (ABCH:SW | 21XC GY), 21Shares Binance ETP (ABNB:SW), 21Shares Tezos ETP (AXTZ:SW), 21shares Bitcoin Suisse ETP (ABBA:SW), 21Shares Bitwise 10 ETP (KEYS:SW), Sygnum Platform Winners Index ETP (MOON:SW), 21Shares Short Bitcoin ETP (SBTC:SW | 21XS:GY), 21Shares Polkadot ETP (ADOT:SW | PDOT:GR), 21Shares Stellar ETP (AXLM SW | XLME GR), 21Shares Cardano ETP (AADA SW | DADA GY) and 21Shares Solana SOL ETP (ASOL SW | 21XL GR). The entire suite is listed on a regulated framework on the official market of Deutsche Boerse, SIX Swiss Exchange, BX Swiss and some on Börse Stuttgart in CHF, USD, GBP and EUR respectively. Founded in 2018, 21Shares is led by a team of talented serial entrepreneurs and experienced banking professionals from the technology and financial world. Incorporated in Zug, with offices in Zurich and New York, the company has launched several world firsts, including the first listed crypto basket index (HODL) ETP in November 2018. 21Shares has 15 crypto ETPs listed today and has over $1.25 Bn in AuM in total listed products.
Laurent Kssis +41 44 260 8660 press@21Shares.com
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