21Shares launches two new ETPs: AFET (AI alliance) and ARAY (Raydium).
The firm now offers 50 crypto ETPs in Europe, managing $11B globally.
AFET tracks Fetch.ai, SingularityNET, Ocean Protocol, and CUDOS.
21Shares, one of the world’s largest issuers of crypto exchange-traded products (ETPs), has announced the launch of two new offerings in Europe, bringing its total listed products to 50.
.@RaydiumProtocol is Solana’s lightning-fast DEX and now you can access it through the 21Shares Raydium ETP (ARAY). Tap into Solana’s growing DeFi hub via your bank or broker.
Known for its deep liquidity and multi-stream revenue models, Raydium is also playing an important role in the tokenization of real-world assets.
According to 21Shares, ARAY currently manages around $1.29 million in assets, while AFET has $100,000 AUM.
Hitting Major Milestones
These launches mark a milestone for 21Shares, which now oversees $11 billion in global assets under management.
Since issuing the world’s first token-backed crypto ETP in 2018, the firm has built the broadest lineup of physically backed crypto ETPs in Europe, though overall volumes still lag far behind US spot Bitcoin and Ether ETFs.
FET and RAY Prices Under Pressure
Despite the attention, the tokens behind these new ETPs have struggled to break out of their current ranges.
FET trades at $0.6315, down more than 2% in the past 24 hours. Although trading volume is up over 6%, the token has yet to push past the daily high of $0.6494 and remains nearly 80% below its all-time high of $3.47.
RAY is trading at $3.20, down almost 5% over the past week. However, trading activity has jumped sharply, with a 23% surge in volume in the last 24 hours.
Like FET, RAY is still trading more than 80% below its peak of $16.93, but rising exchange activity hints at growing accumulation, potentially making them the next crypto to explode in 2025.
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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.