21Shares Heads to the Middle East and Offers Bitcoin ETP on Nasdaq Dubai

21Shares Heads to the Middle East and Offers Bitcoin ETP on Nasdaq Dubai

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Answer 21Shares Heads to the Middle East and Offers Bitcoin ETP on Nasdaq Dubai

Switzerland-based fintech firm 21Shares AG has unveiled its Bitcoin ETP product that will be traded on Nasdaq Dubai.

The product presented will be the first truly supported Bitcoin ETP in the Middle East.

The company “21Shares” recently entered into the activity of listing its products on many global exchanges, as it presented Bitcoin and Ethereum as ETN products on Nasdaq Stockholm, and ETP cryptocurrencies on Euronext Paris and others…

21Shares is heading to the Middle East:

21Shares has expanded its global reach by launching a Bitcoin (ETP) trading product on the Middle East international financial exchange NASDAQ Dubai.

The fund will be traded under the same index as in Europe under the name “ABTC”.

Read:Will the “Three Arrows Capital” hedge fund that manages billions of dollars in crypto collapse? Here’s what’s going on

With the addition of the UAE ETP, 21Shares now has 46 crypto products listed in seven different countries.

Hani Rashwan, CEO and co-founder of 21Shares, praised the Middle East as an important region for the cryptocurrency industry.

He stressed that the company will continue to support the region’s ambitions to become a global hub for cryptocurrencies.

Two months ago, 21Shares appointed Mr. Sherif Al-Haddad as the company’s head of the Middle East division.

The CEO is a staunch supporter of the crypto industry, having previously stated:

The origin of the future for investors and wealth managers around the world.

The expansion of the institution in the Arab region can be beneficial given that the cryptocurrency market in the region is moving at an accelerated pace.

Domestic consumers received more than $566 billion in digital assets from July 2021 to June 2022, an increase of 48% over what they received in the previous year.

The financial heart of the Middle East, Dubai, often makes headlines in the cryptocurrency space.

Over the past several months, domestic watchdogs have allowed leading crypto firms, such as:

Read:Report: A technical glitch in the NEO network could cause you to lose your coins

Binance, CryptoCom, OKX and FTX, offering their services and products in the region.

At the end of 2021, the Swiss company 21Shares became the first issuer of ETNs on Nasdaq Stockholm.

Read:Learn about the details of Ripple’s partnership with “MoneyGram”

The cash products are traded under the stock symbols ABTC and AETH which adopt Bitcoin and Ethereum as the underlying assets.

Early this year, 21Shares launched three new crypto ETPs on BX Swiss that track the performance of Aave, Chainlink and Uniswap.

Days later, Chainlink, Terra and Uniswap ETP were listed on Euronext Paris and Amsterdam.

In April, 21Shares focused on Australia as well.

By joining forces with ETF Securities, the two parties unveiled the country’s first two ETFs that provide clients with direct access to cryptocurrencies.

The products named EBTC and EETH track the valuation of Bitcoin and Ethereum, respectively, in Australian dollars.

21Shares also introduced two funds intended for accredited US investors.

Read also:

13 years ago: Selling 5,000 Bitcoins for just $5!

After Coinbase, Obtains a Crypto License in Singapore

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