tl;dr
21Shares, a token-backed crypto ETP provider, launched two new products—AFET (Artificial Superintelligence Alliance ETP) and ARAY (Raydium ETP)—bringing its European ETP lineup to 50. AFET tracks decentralized AI protocols, while ARAY provides exposure to Solana's DeFi ecosystem. Both are listed on ...
**21Shares Hits 50 Crypto ETP Milestone in Europe, Launches AI and Solana-Focused Products**
Investors in Europe are getting closer to a more diversified crypto portfolio. 21Shares, a pioneer in token-backed exchange-traded products (ETPs), has unveiled two new offerings, pushing its total European ETP lineup to 50. The additions—*the 21Shares Artificial Superintelligence Alliance ETP (AFET)* and *the 21Shares Raydium ETP (ARAY)*—signal the firm’s growing ambition to bridge traditional finance and the crypto world.
AFET is designed for those eyeing the intersection of artificial intelligence and blockchain. It tracks a basket of decentralized AI protocols, including Fetch.ai, SingularityNET, Ocean Protocol, and CUDOS. These projects aim to democratize AI tools and data sharing, appealing to investors intrigued by the potential of AI-driven innovation. Meanwhile, ARAY offers exposure to Raydium, a key player in Solana’s decentralized finance (DeFi) ecosystem. Solana’s high-speed, low-cost blockchain has become a hub for developers, and Raydium’s token gives investors a stake in its growth.
Both ETPs are *token-backed*, meaning they hold the actual crypto assets they track—unlike some derivatives that bet on price movements. AFET is listed on Euronext Amsterdam and Paris, while ARAY trades on the SIX Swiss Exchange. This accessibility on major European platforms makes them easier for retail and institutional investors to trade, much like traditional stocks.
Duncan Moir, 21Shares’ president, called the expansion a milestone. “With these new launches, 21Shares now offers investors access to 50 physically backed crypto ETPs across Europe,” he said. The firm, which manages over $11 billion in global assets, first launched a token-backed crypto ETP in 2018, paving the way for today’s crowded market.
Yet, despite Europe’s lead in ETP数量, the U.S. still dominates in scale. European crypto ETPs hold around $23.24 billion in assets under management (AUM), according to ETFBook data. In contrast, U.S. spot bitcoin and ether ETFs alone boast over $174 billion in AUM. The gap highlights the regulatory hurdles crypto faces in the U.S., where the SEC’s cautious approach has delayed broader adoption.
For now, 21Shares’ move underscores Europe’s role as a testing ground for crypto innovation. By packaging complex assets like AI protocols and Solana tokens into familiar ETP structures, the firm is making crypto more palatable for mainstream investors. But as the market evolves, the question remains: Can Europe’s ETPs close the AUM gap—or will the U.S. continue to outpace them?
One thing is certain: The battle for crypto’s future is far from over.