21Shares’ entry into the Middle East provides investors in the market with access to the rapidly-growing asset class through Nasdaq Dubai
DUBAI, UAE, October 12, 2022 – 21Shares AG (“21Shares”), part of parent company, 21.co, and the world’s largest issuer of cryptocurrency exchange traded products (ETPs), today announced its launch in the Middle East – introducing the first physically-backed bitcoin ETP in the Middle East with the listing of 21Shares Bitcoin ETP (Ticker: ABTC) on Nasdaq Dubai. This marks 21Shares’ first entry into the Middle East – a key region on the company’s global roadmap.
The 21Shares Bitcoin ETP is listed on Nasdaq Dubai, accompanied by a bell ringing ceremony, the region’s international exchange, and trades in the same way as the 21Shares Bitcoin ETP in Europe. With the addition of Nasdaq Dubai, 21Shares lists 46 products across 12 exchanges in 9 countries.
“Our expansion into the UAE is a major milestone in 21Shares’ international growth plans. Coming from the Middle East myself, the region is exceptionally important to me and, as a company, we are committed to providing regional investors with safe and secure access to cryptocurrency-backed products,” said Hany Rashwan, CEO and co-founder of 21Shares. “Our partners Nasdaq Dubai and Dubai Financial Market share our vision to provide investors with access to new and exciting asset classes. 21Shares will continue to support the Middle East’s ambitions to become a global crypto hub.”
Today’s news follows the recent appointment of Sherif El-Haddad, who joined 21Shares in August this year as Head of Middle East. Commenting on the listing, El-Haddad adds; “Cryptocurrencies are fast becoming the asset of the future for investors and wealth managers around the world, as global crypto adoption and investment levels continue to accelerate at pace – and the Middle East is a major accelerator of this growth. The UAE, and broader GCC, is a market of significant strategic importance to our business, and we are excited about the opportunity this market opens to us.”
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said “We are pleased that 21Shares has selected Nasdaq Dubai to list its ETP. This is another testament to Dubai’s open, progressive, and innovation-first approach. Streamlining investors’ access to diversified asset classes is a key pillar in Nasdaq Dubai’s endeavor to attract further investments and stimulate active engagement from various market participants. Nasdaq Dubai’s world-class infrastructure, broker network and regulatory-focused approach offers fund managers the right environment to bring their products to market.”
Today’s announcement follows the launch of 21Shares parent company, 21.co – and its recent $25 million fundraising round which made the company Switzerland’s largest crypto unicorn.
Investors interested in learning more about the 21Shares Bitcoin ETP can visit 21shares.com/en-AE.
21.co is the world’s leader in providing access to crypto through simple and easy to use products. 21.co is the parent company of 21Shares, the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties – in addition to Amun, a token provider focused on making the DeFi world more accessible. The company was founded in 2018 by Hany Rashwan and Ophelia Snyder. 21.co is registered in Zug, Switzerland with offices in Zurich and New York. For more information, please visit www.21.co.
About Nasdaq Dubai
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).
The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
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