• CRO price was down almost 2% regardless of 21Shares’ launch of a brand new Cronos exchange-traded product.
• The ETP is stay on the Euronext Paris and Euronext Amsterdam exchanges.
• Cronos’ price has struggled amid the broader market downturn.

21Shares, a number one crypto asset supervisor, launched a brand new exchange-traded product (ETP) tied to Cronos, a Layer 1 blockchain community developed by Crypto.com.

This transfer goals to offer buyers with regulated publicity to Cronos’ native token, CRO, with out the complexities of managing digital wallets or navigating crypto exchanges.

The announcement, shared by Cronos on X, highlights a rising development of main asset managers integrating cryptocurrencies into conventional monetary programs.

Many of those have just lately hit the market by way of exchange-traded merchandise.

The funding autos provide a bridge for buyers in search of publicity to the fast-evolving web3 ecosystem.

21Shares declares Cronos ETP launch

Change-traded merchandise like ETPs have grow to be a well-liked automobile for buyers to achieve publicity to cryptocurrencies with out instantly proudly owning them.

ETP merchandise, traded on regulated inventory exchanges, monitor the efficiency of underlying property like $CRO and are accessible by means of standard brokers and banks.

The launch of the 21Shares Cronos ETP aligns with the broader market’s rising acceptance of crypto-based ETFs.

The 21Shares Cronos ETP, buying and selling beneath the ticker CRON, is now stay on Euronext Paris and Euronext Amsterdam, as confirmed by each 21Shares and Cronos.

With a 2.5% annual price, the ETP permits buyers so as to add $CRO to their portfolios seamlessly.

This product eliminates the necessity for self-custody, a standard barrier for conventional buyers hesitant to have interaction with cryptocurrencies instantly.

The launch sees 21Shares, a Zurich-based agency, proceed to broaden its suite of crypto-linked ETPs, which already consists of varied cryptocurrencies.

The corporate has additionally been making strides within the US.

Not too long ago, it filed an S-1 registration kind for an SUI ETF, becoming a member of many different fund purposes earlier than the SEC.

Specialists consider the regulator will approve a number of of the ETFs earlier than the tip of the 12 months.

CRO price efficiency amid market developments

Regardless of the optimistic information, the price of $CRO skilled a slight decline, with the altcoin’s price down almost 2% previously 24 hours on the time of writing.

This motion aligns with the broader cryptocurrency market efficiency previously 24 hours.

Bitcoin, which rose to highs of $97k over the weekend, was down to close $93k as shares additionally struggled amid tariff uncertainty.

CRO price may dip additional amid this outlook. Nevertheless, the launch of the ETP could but spark contemporary optimism inside the Cronos group, serving to CRO larger.