21Shares, a expertise and monetary firm engaged on issuing exchange-traded merchandise (ETPs), has listed its first physically-backed Bitcoin ETP within the Center East.
Based on the press launch shared on October twelfth, it’s the firm’s first entry into the Center East whereas itemizing Bitcoin ETP (ABTC) on Nasdaq Dubai.
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The corporate famous that Bitcoin ETP is ready to commerce the identical manner as Bitcoin ETP launched in late June in Europe. After itemizing Bitcoin ETP within the Center East, 21Shares holds 46 merchandise throughout 12 exchanges and 9 international locations.
21Shares CEO and co-founder Hany Rashwan declare that growth to the Center East is a significant milestone within the firm’s development plans. The CEO assured that the corporate will present its traders with safe and protected entry to cryptocurrency-backed merchandise. Rashwan added:
Our companions Nasdaq Dubai and Dubai Monetary Market share our imaginative and prescient to supply traders with entry to new and thrilling asset lessons. 21Shares will proceed to help the Center East’s ambitions to change into a world crypto hub.
In its press launch, 21Shares notes that the itemizing follows a latest appointment of Sherif El-Haddad to work as Head of the Center East division. When speaking in regards to the latest itemizing within the Center East, El-Haddad claimed that this area is a good place for crypto adoption.
Elaborating on 21Shares itemizing, CEO of Nasdaq Dubai and Dubai Monetary Market (DFM) Hamed Ali stated:
We’re happy that 21Shares has chosen Nasdaq Dubai to checklist its ETP. That is one other testomony to Dubai’s open, progressive, and innovation-first strategy. Streamlining traders’ entry to diversified asset lessons is a key pillar in Nasdaq Dubai’s endeavor to draw additional investments and stimulate energetic engagement from numerous market contributors.
In 2021, Canadian agency 3iQ listed its Bitcoin exchange-traded fund (ETF) on Nasdaq Dubai. It’s value noting that at the moment, 3iQ’s ETF was the primary cryptocurrency fund buying and selling within the Center East.
In different information, numerous crypto exchanges are actively increasing to the Center East. Main crypto exchanges, equivalent to Binance, eToro, FTX, OKX, Coinbase, and Kraken, have established their workplaces in Dubai and Abu Dhabi. Furthermore, in September, Binance obtained Dubai’s Digital Asset Regulatory Authority’s license to supply crypto-related providers.