21Shares, a prominent crypto asset manager, has introduced a new exchange-traded product (ETP) that provides investors with regulated access to the native token of Cronos (CRO), the Layer 1 blockchain developed by Crypto.com. The 21Shares Cronos ETP, trading under the ticker CRON, is now listed on both Euronext Paris and Euronext Amsterdam, carrying an annual fee of 2.5%.
The product allows investors to gain exposure to CRO through traditional brokerage and banking channels, eliminating the need for direct management of crypto wallets or dealing with crypto exchanges.
This launch expands the Zurich-based firm's portfolio of crypto-linked ETPs, which already includes various other cryptocurrencies. In parallel, 21Shares has taken steps toward introducing similar products in the U.S., illustrated by a recently filed S-1 registration for a SUI ETF.
On the day of launch, CRO's price declined about 1.4%, reflecting broader crypto market trends rather than a reaction specific to the new ETP.