21Shares has launched the first crypto index exchange-traded funds (ETFs) in the United States regulated under the Investment Company Act of 1940, offering diversified and regulated access to the digital asset market.
The two new funds, the 21Shares FTSE Crypto 10 Index ETF (TTOP) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (TXBC), provide investors with exposure to a basket of leading cryptocurrencies. This structure eliminates the need for individual digital wallet management.
These ETFs are registered under the U.S. 1940 Act, which mandates disclosure, governance, and custody requirements similar to traditional investment funds. This regulatory oversight aims to enhance investor confidence in the often-volatile cryptocurrency sector.
The TTOP fund tracks the FTSE All-World Crypto 10 Index, encompassing the top 10 cryptocurrencies by market capitalization. Its holdings include significant allocations to Bitcoin, Ethereum, Solana, XRP, and Dogecoin.
Conversely, the TXBC fund excludes Bitcoin, focusing instead on blockchain networks with broader practical applications beyond just a store of value. These include Ethereum, Solana, and Dogecoin.
Both ETFs are rebalanced quarterly to adapt to market changes. TTOP carries a management fee of 0.50%, while TXBC has a fee of 0.65%.
Federico Brokate, Global Head of Business Development at 21Shares, stated that index products have proven effective for diversified exposure in traditional markets. He emphasized that TTOP and TXBC bring this familiar approach to digital assets, offering a single access point to leading cryptocurrencies within a market-adaptive structure.
Fiona Bassett, CEO of FTSE Russell, expressed satisfaction with the collaboration, highlighting her company’s commitment to robust, rules-based indices. FTSE Russell developed the indices tracked by the new ETFs.
The launch underscores 21Shares’ strategic expansion within the U.S. market, building on prior partnerships such as one with FalconX for digital custody services. Headquartered in Zurich, Switzerland, 21Shares already provides Bitcoin and Ethereum ETFs on U.S. exchanges.
These new products arrive as a milestone for institutional adoption, providing a diversification method akin to the S&P 500 in traditional finance, but tailored for the crypto ecosystem. Their debut coincides with the recent launch of the first spot XRP ETF in the U.S.