Breaking: 21Shares Lists First Bitcoin ETP On Nasdaq, But There's A Catch

CoingapePublished on 2022-10-12Last updated on 2022-10-12

Abstract

The world’s largest crypto exchange-traded products firm 21Shares launches its first physically-backed Bitcoin ETP in the Middle East.


The world’s largest crypto exchange-traded products firm 21Shares launches its first physically-backed Bitcoin ETP in the Middle East. The 21Shares Bitcoin ETP (ABTC) is successfully listed on Nasdaq Dubai. It marks the ETP issuer’s first entry into the Middle East as crypto adoption grows in the region, especially the UAE.
21Shares Announces First Physically-Backed Bitcoin ETP in Dubai
In a press release on October 12, 21Shares announces the listing of the first physically-backed Bitcoin ETP on Nasdaq Dubai. The 21Shares Bitcoin ETP will trade in the same way as the 21Shares Bitcoin ETP in Europe. With the listing of the first Bitcoin ETP in the Middle East, 21Shares now has 46 products across 12 exchanges in 9 countries.
Hany Rashwan, CEO and co-founder of 21Shares, believes the expansion into the UAE is a major milestone due to the massive growth in crypto and blockchain adoption in the region. The company’s crypto-backed products allow regional investors to safely and securely enter the crypto market.
“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.”
The move followed the recent appointment of Sherif El-Haddad as Head of Middle East at 21Shares. He asserts the Middle East, especially the UAE, holds significant strategic importance for the firm as the government-led crypto adoption picks pace in the region.
Quant Price Bull Run Eyes A 20% Rise With This Breakout
The U.S. Still Seeks Its First Bitcoin ETP
While 21Shares and other ETP companies continue to issue Bitcoin exchange-traded products across the world, U.S. crypto investors still seek the first Bitcoin spot ETP. Crypto experts believe the SEC accepting a Bitcoin spot ETF will drive massive institutional adoption.
However, the SEC accepted Bitcoin futures ETFs, but not Bitcoin spot ETFs. The SEC cites fraud and market manipulation as reasons for rejecting ETFs by WisdomTree and Grayscale. Meanwhile, Grayscale calls the SEC decision “discriminatory” as it seeks to convert its Bitcoin Trust (GBTC) into a spot Bitcoin ETF.

Related Reads

$20M Crypto Scam Lands Texas Man 23-Year Prison Sentence

Robert Dunlap, a Texas man, has been sentenced to 23 years in federal prison for orchestrating a $20 million cryptocurrency scam. He was convicted of conspiracy to commit mail and wire fraud for promoting the "Meta 1 Coin," which he falsely claimed was backed by a $1 billion art collection and $2 billion in gold. The assets did not exist. Dunlap promised investors massive, risk-free returns and defrauded nearly 1,000 victims. He used the stolen funds for a lavish lifestyle, including purchasing a Ferrari. Despite an SEC order to stop, he continued promoting the scam and attempted to use "sovereign citizen" tactics to defy the court. He was also ordered to pay over $10 million in restitution.

bitcoinist7m ago

$20M Crypto Scam Lands Texas Man 23-Year Prison Sentence

bitcoinist7m ago

US Spot Bitcoin ETFs Attract $1B Weekly Inflows Amid Easing Global Tensions

US spot Bitcoin ETFs recorded nearly $1 billion in net inflows last week, the highest in over three months, with a single-day peak of $663.9 million on Friday. Total net assets exceeded $101 billion, accompanied by surging daily trading volume nearing $4.8 billion. Analysts attribute the momentum to easing global tensions, particularly in US-Iran relations, which reduced demand for traditional safe-haven assets like the US dollar. Market confidence was further boosted by diplomatic developments ensuring open access to the Strait of Hormuz, causing Bitcoin’s price to surge past $78,000 while Brent crude oil dropped sharply. The shift reflects growing investor appetite for alternative assets amid evolving macroeconomic conditions.

TheNewsCrypto1h ago

US Spot Bitcoin ETFs Attract $1B Weekly Inflows Amid Easing Global Tensions

TheNewsCrypto1h ago

World Unveils Full-Stack World ID Upgrade to Power Proof of Human

World has launched World ID 4.0, a major upgrade to its identity protocol designed to serve as a universal proof of human in digital environments. The system verifies that users are real, unique humans without collecting or exposing personal data, relying instead on cryptographic methods and one-time nullifiers to ensure privacy and prevent tracking. Already used by 18 million people across 160 countries, World ID enables seamless, anonymous authentication across platforms. It introduces a dedicated app for credential management and an open-source SDK for developers. Applications include reducing bots on social media, ensuring fair access in ticketing systems, improving security in enterprise settings through "human continuity," and enabling accountability for AI agents via "human-backed AI" tools. The protocol aims to make proof of humanity a foundational, privacy-preserving layer of the internet—establishing trust through cryptographic verification rather than personal data disclosure.

TheNewsCrypto1h ago

World Unveils Full-Stack World ID Upgrade to Power Proof of Human

TheNewsCrypto1h ago

Crypto Exec Joe McCann Draws Scrutiny After Fiancée’s Death In Zanzibar

Crypto hedge fund founder Joe McCann is under investigation by Zanzibar police following the death of his fiancée, Ashly Robinson, on April 9. Robinson was found unresponsive in her hotel room with a belt around her neck after the couple had a dispute and were moved to separate rooms. While authorities have preliminarily ruled the death a suicide, they are withholding McCann’s passport pending a formal autopsy. Robinson’s family has publicly challenged the suicide ruling, noting she had recently celebrated her 31st birthday and their engagement. McCann’s not commented publicly. The incident occurs amid reported financial struggles at McCann’s fund, Asymmetric, which lost 80% of its value in 2025.

bitcoinist3h ago

Crypto Exec Joe McCann Draws Scrutiny After Fiancée’s Death In Zanzibar

bitcoinist3h ago

Podcast Notes: Hyperliquid Has Become the Top Interest Point for Traditional Hedge Funds

Empire Podcast hosts Jason Yanowitz and Santiago Santos discuss the surging institutional interest in Hyperliquid, a decentralized perpetual exchange, marking the highest level of engagement from traditional hedge fund managers since Paul Tudor Jones endorsed Bitcoin in 2020. The primary driver is the demand for weekend trading of commodities like oil, especially during geopolitical tensions such as the Iran conflict, as Hyperliquid provides the only active price discovery venue when traditional markets are closed. Trade XYZ, a front-end on Hyperliquid, has seen significant growth, with weekend oil price predictions having a median error of only 50 basis points. Santos predicts commodity trading volume on Hyperliquid will surpass Bitcoin within the year and that its market cap could rise from $25 billion to $100 billion. Other key points include Kraken raising $200 million at a reduced valuation of $13.3 billion, and the SEC clarifying that self-custodied DeFi frontends like MetaMask are not subject to broker-dealer rules, resolving a major regulatory uncertainty. The hosts also note the strong correlation between crypto and macro markets, with the S&P 500 posting one of its best 10-day rallies since 1950. They highlight MicroStrategy's continued Bitcoin acquisitions and the potential of real-world asset (RWA) tokenization as a key trend. The discussion concludes with skepticism towards many L2 projects, predicting a wave of protocols truly going to zero as capital concentrates in proven assets like Bitcoin and Hyperliquid.

marsbit5h ago

Podcast Notes: Hyperliquid Has Become the Top Interest Point for Traditional Hedge Funds

marsbit5h ago

Trading

Spot
Futures

Hot Articles

What is $BITCOIN

DIGITAL GOLD ($BITCOIN): A Comprehensive Analysis Introduction to DIGITAL GOLD ($BITCOIN) DIGITAL GOLD ($BITCOIN) is a blockchain-based project operating on the Solana network, which aims to combine the characteristics of traditional precious metals with the innovation of decentralized technologies. While it shares a name with Bitcoin, often referred to as “digital gold” due to its perception as a store of value, DIGITAL GOLD is a separate token designed to create a unique ecosystem within the Web3 landscape. Its goal is to position itself as a viable alternative digital asset, although specifics regarding its applications and functionalities are still developing. What is DIGITAL GOLD ($BITCOIN)? DIGITAL GOLD ($BITCOIN) is a cryptocurrency token explicitly designed for use on the Solana blockchain. In contrast to Bitcoin, which provides a widely recognized value storage role, this token appears to focus on broader applications and characteristics. Notable aspects include: Blockchain Infrastructure: The token is built on the Solana blockchain, known for its capacity to handle high-speed and low-cost transactions. Supply Dynamics: DIGITAL GOLD has a maximum supply capped at 100 quadrillion tokens (100P $BITCOIN), although details regarding its circulating supply are currently undisclosed. Utility: While precise functionalities are not explicitly outlined, there are indications that the token could be utilized for various applications, potentially involving decentralized applications (dApps) or asset tokenization strategies. Who is the Creator of DIGITAL GOLD ($BITCOIN)? At present, the identity of the creators and development team behind DIGITAL GOLD ($BITCOIN) remains unknown. This situation is typical among many innovative projects within the blockchain space, particularly those aligning with decentralized finance and meme coin phenomena. While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. How DIGITAL GOLD ($BITCOIN) Works The operational mechanics of DIGITAL GOLD ($BITCOIN) can be elaborated on based on its blockchain design and network attributes: Consensus Mechanism: By leveraging Solana’s unique proof-of-history (PoH) combined with a proof-of-stake (PoS) model, the project ensures efficient transaction validation contributing to the network's high performance. Tokenomics: While specific deflationary mechanisms have not been extensively detailed, the vast maximum token supply implies that it may cater to microtransactions or niche use cases that are still to be defined. Interoperability: There exists the potential for integration with Solana’s broader ecosystem, including various decentralized finance (DeFi) platforms. However, the details regarding specific integrations remain unspecified. Timeline of Key Events Here is a timeline that highlights significant milestones concerning DIGITAL GOLD ($BITCOIN): 2023: The initial deployment of the token occurs on the Solana blockchain, marked by its contract address. 2024: DIGITAL GOLD gains visibility as it becomes available for trading on decentralized exchanges like PumpSwap, allowing users to trade it against SOL. 2025: The project witnesses sporadic trading activity and potential interest in community-led engagements, although no noteworthy partnerships or technical advancements have been documented as of yet. Critical Analysis Strengths Scalability: The underlying Solana infrastructure supports high transaction volumes, which could enhance the utility of $BITCOIN in various transaction scenarios. Accessibility: The potential low trading price per token could attract retail investors, facilitating wider participation due to fractional ownership opportunities. Risks Lack of Transparency: The absence of publicly known backers, developers, or an audit process may yield skepticism regarding the project's sustainability and trustworthiness. Market Volatility: The trading activity is heavily reliant on speculative behavior, which can result in significant price volatility and uncertainty for investors. Conclusion DIGITAL GOLD ($BITCOIN) emerges as an intriguing yet ambiguous project within the rapidly evolving Solana ecosystem. While it attempts to leverage the “digital gold” narrative, its departure from Bitcoin's established role as a store of value underscores the need for a clearer differentiation of its intended utility and governance structure. Future acceptance and adoption will likely depend on addressing the current opacity and defining its operational and economic strategies more explicitly. Note: This report encompasses synthesised information available as of October 2023, and developments may have transpired beyond the research period.

363 Total ViewsPublished 2025.05.13Updated 2025.05.13

What is $BITCOIN

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of BTC (BTC) are presented below.

活动图片

Top Questions

Hot Categoriesright-arrow

Hot Tagsright-arrow