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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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21shares Launches Bitcoin Cash and Ethereum ETPs on Deutsche Boerse’s Xetra

21shares Launches Bitcoin Cash and Ethereum ETPs on Deutsche Boerse’s Xetra

The cryptocurrency exchange-traded products (ETP) provider 21shares AG, formerly known as Amun, has announced the launch of two new crypto asset ETPs on Deutsche Boerse’s Xetra. The 21shares ETPs will leverage the cryptocurrencies ethereum under the ticker “21XE,” and bitcoin cash under the ticker “21XC.”

Bitcoin Cash and Ethereum Exchange Traded Products Listed on Xetra

Following the firm’s two bitcoin (BTC) exchange-traded products listed last year, 21shares AG is launching two new ETPs for the popular crypto-assets bitcoin cash (BCH) and ethereum (ETH). Ethereum is currently the second-largest blockchain, in terms of market valuation, while bitcoin cash holds the eleventh position. On February 3, 2021, the Zurich-based investment provider launched an ETP for the crypto asset polkadot (DOT) on the Swiss exchange SIX.

The new bitcoin cash (BCH) ETP will be called “21XC” and the ethereum (ETH) product will be called “21XE.” Both debuted on the Swiss stock market in mid-2019, and both assets are “fully collateralised using Coinbase as independent regulated institutional-grade custodian,” 21shares notes. Collectively with all the products under 21share’s hood, the company assets under management (AUM) is $1 billion as of February 2021.

21shares to Fill the Void of Institutional-Grade Products for Other Large-Volume Crypto Assets

Hany Rashwan, the CEO of 21shares said that the company has been at the forefront of the crypto ETP space since the firm’s introduction. “While other issuers continue to follow our steps in listing a Bitcoin ETP on a stock exchange, we had time to build the infrastructure and actively conduct regulatory lobbying for other innovative crypto assets and issuances,” Rashwan detailed.

Rashwan further added:

This is why we were the first to list an ether and bitcoin cash ETP on the Swiss stock exchange and we are now leveraging our expertise to provide investors in the DACH region and beyond with the same institutional reach, safety, and cost-effective ways to gain exposure to crypto-assets. After the immensely successful launch of the first Polkadot ETP just a month ago, we are working on several more launches in the second and third quarter.

21shares also noted that since the outbreak of the coronavirus in March 2020, bitcoin (BTC) has seen a massive increase in value. It also emphasized the institutional interest in crypto assets with firms like Paypal, Microstrategy, and Tesla jumping on the bandwagon. 21shares highlighted that financial vehicles for BTC are already widely available, and the company recognizes that there’s a demand for products dedicated to alternative crypto assets with large market caps as well.

“While there is already an abundance of Bitcoin financial products on the market, there is a significant lack of institutional-grade products for other large-volume crypto assets,” 21shares said.

What do you think about 21shares launching ether and bitcoin cash ETPs on Deutsche Boerse’s Xetra? Let us know what you think about this subject in the comments section below.

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