Crypto.com's CRO digital currency gains investment access via 21Shares' newly introduced exchange-traded product (ETP)
Hop on board the crypto train with 21Shares' latest offering—a revolutionary Exchange-Traded Product (ETP) that provides investors with a regulated pathway to the Cronos blockchain and its native token, CRO. Listed on the Euronext Paris and Amsterdam under the ticker CRON, this dynamo comes with a 2.5% management fee and a mission to make it a breeze for you to tap into the burgeoning Web3 infrastructure, as hinted in the official announcement.
What's Cronos All About?
Welcome to the realm of Cronos, a cutting-edge Layer 1 blockchain designed with a keen eye for DeFi, NFTs, and AI-powered Web3 apps. Interoperable with both Ethereum and Cosmos, this network seeks to blur the lines between centralized and decentralized ecosystems, aiming to be the bridge between the old and the new world of finance. Guiding its trajectory is the steadfast backing of Crypto.com, a key player in its growth voyage.
As Mandy Chiu, the Head of Financial Products Development at 21Shares, points out, "Cronos stands uniquely at the intersection of centralized access and decentralized innovation." Joining forces with Crypto.com, CEO of the latter, Eric Anziani, pledges that this partnership is but a step forward in popularizing crypto investment opportunities.
The Price is Right?
Curious about what happened to Cronos' price in March? Well, it seems that a vote to create Strategic Reserves ignited a spark in its value. And let's not forget the proposed burning of 50 million CRO tokens from the community pool—the fourth such token burn in recent times.
Previously, the community had agreed to a burn of CRO tokens, but this vote to mint new tokens has raised eyebrows about potential dilution in the market. To assuage these concerns, developers have floated the idea of burning 50 million CRO tokens from the community pool.
21Shares' Next Big Thing
Ever the pioneer in digital asset management, 21Shares is staying tuned to the pulse of the industry by launching the Cronos ETP. This revamped product allows investors to bask in the CRO glow without the hassle of managing crypto wallets or dealing with exchanges directly. Plus, with traditional banks and brokers offering this ETP, uber-convenient access to CRO has never been easier.
With this innovative move, 21Shares is strengthening its roster of crypto ETPs, catering to investors hunting for Securities and Exchange Commission (SEC)-approved instruments tied to blockchain ecosystems. Brace yourself for more growth, as 21Shares sets its sights on infiltrating the U.S. market.
Phew! What About Old Blighty?
While the United Kingdom has decided that Bitcoin reserves aren't their cup of tea (stating they're not 'appropriate for our market'), the crypto world continues to evolve at rapid strides. With stars like Cronos and 21Shares shaping the future of finance, the skies are looking pretty clear—at least from a crypto enthusiast's perspective.
Enrichment Snippets:
- Cronos Blockchain and CRO Token: A fast, scalable, and low-cost blockchain designed for DeFi, NFTs, and AI-driven Web3 applications. Built with support from Crypto.com, it's interoperable with Ethereum and Cosmos.
- Future Predictions: Analysts foresee CRO stabilizing around a minimum of $0.084 by 2025, potentially reaching a maximum of $0.1278. Long-term forecasts indicate a maximum of $1.24 by 2031.
- Cronos Cross-Bridge Mainnet Beta: An upcoming enhancement to boost interoperability among blockchain ecosystems, increasing CRO's appeal and adoption.
- 21Shares Expansion: The firm is aggressively expanding its lineup, with the Cronos ETP being a recent addition, and plans to penetrate the U.S. market in the near future.
- Cronos and Crypto.com Collaboration: Crypto.com provides resources and expertise to bolster Cronos' ecosystem, with a focus on blending AI with blockchain technology to pave the way for future innovations in various sectors.
- The Cronos blockchain, home to the CRO token, is a Layer 1 blockchain acclaimed for its support of DeFi, NFTs, and AI-driven Web3 applications.
- Cronos, interoperable with both Ethereum and Cosmos, aims to dissolve boundaries between centralized and decentralized ecosystems, serving as a conduit between traditional and crypto finance.
- 21Shares' latest offering, the Cronos ETP, provides a regulated avenue for investors to access the Cronos blockchain and its native token, CRO, with a highlighted mission to facilitate easy crypto investment.
- In March, a vote to create Strategic Reserves and a proposed burning of 50 million CRO tokens from the community pool stirred up a surge in Cronos' value.
- Despite the proposed minting of new tokens potentially causing market dilution concerns, developers have suggested burning 50 million CRO tokens from the community pool as a solution.
- With the launch of the Cronos ETP, 21Shares strengthens its portfolio of crypto ETPs, providing investors with SEC-approved instruments tied to blockchain ecosystems.
- In an attempt to broaden its reach, 21Shares is targeting the U.S. market as the next step in its growth strategy.
- While the UK has opted against incorporating Bitcoin reserves, the bigger crypto picture continues to unfold briskly, with trailblazers like Cronos and 21Shares driving the future of finance.
