Swiss-based digital asset manager 21Shares has officially launched its first U.S. multi-crypto index ETFs, expanding investor access beyond single-coin spot ETFs into diversified crypto exposure.
🔹 What’s New?
Two ETFs debut under the Investment Company Act of 1940 — a major milestone, as nearly all previous crypto ETFs launched under the riskier ’33 Act structure.
The new ETFs:
- FTSE Crypto 10 Index ETF (TTOP) – Fee 0.50%
- FTSE Crypto 10 ex-BTC Index ETF (TXBC) – Fee 0.65%
These funds track a basket of major cryptocurrencies including Ethereum, Solana, Dogecoin, and more.
Exposure is obtained indirectly through 21Shares’ own ETPs listed in Europe.
🔹 Why This Matters
The ’40 Act structure is the gold standard for professional and institutional investors due to:
- Stronger investor protections
- More favorable tax treatment
- Higher regulatory credibility
This could open the door for RIAs, institutional allocators, and conservative wealth platforms that previously avoided crypto ETFs.
🔹 But Adoption Will Be Slower
According to 21Shares President Duncan Moir:
- Retail prefers single-coin products
- Index funds appeal more to advisers who want diversified exposure
- No one knows which altcoins will be the “long-term winners” — making index exposure more attractive
🔹 Market Context
The launch comes amid:
- Volatile pricing, with Bitcoin briefly falling below $100K
- Intense competition among issuers rolling out altcoin spot ETFs
- A broader shift from single-asset crypto vehicles to multi-asset portfolios
Only two other multi-coin ETFs exist today (Hashdex + Grayscale’s GDLC, both ’33 Act). Bitwise and T. Rowe Price are also preparing similar products.
📌 Takeaway
21Shares is setting a new precedent:
Moving multi-crypto ETFs into the stricter ’40 Act framework signals growing institutionalization and maturity in U.S. digital-asset markets.
This launch could quietly become one of the most important steps toward mainstream multi-crypto investing.