21Shares launches ETP for Crypto.com's Cronos token

21Shares has launched an exchange traded product (ETP) in Europe, providing investors with exposure to Crypto.coms Cronos token, the asset manager said.The ETP is listed on Euronexts Paris and Amsterdam exchanges, 21Shares said in a May 6 announcement.Cronos (CRO) is a layer-1 blockchain network affiliated with Crypto.com, a centralized exchange.The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support decentralised finance (DeFi), NFTs, and Web3 applications, 21Shares said.The ETP aims to provide investors with a straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital wallets or exchanges, 21Shares said.The CRO tokens historical performance. Source: CoinMarketCapBy launching a Cronos ETP, we are offering investors [] regulated exposure to a blockchain ecosystem that is driving real-world adoption, Mandy Chiu, 21Shares head of financial products development, said in a statement.Related: Standard Chartered sees BNB more than doubling in 2025The CRO token has a market capitalization of approximately $2.3 billion and a fully diluted value (FDV) of nearly $8.7 billion, according to data from CoinMarketCap.Cronos has a total value locked (TVL) of approximately $400 million, according to data from DeFiLlama.Its DeFi ecosystem includes Crypto.coms liquid Ether staking token, Crypto.com Staked ETH, which has nearly $64 million in TVL, the data shows.Cronos TVL. Source: DeFiLlamaAltcoin ETFs aboundOn May 5, asset manager VanEck filed to list an exchange-traded fund (ETF) in the US tied to yet another exchange-affiliated token.The VanEck BNB ETF is the first proposed ETF in the US holding BNB Chains native token, BNB. The chain is affiliated with Binance, the worlds largest centralized exchange.In the US, 21Shares has proposed ETFs holding cryptocurrencies including Dogecoin (DOGE), Polkadot (DOT), and Solana (SOL).Asset managers are seeking the US Securities and Exchange Commissions (SEC) permission to list upward of 70 cryptocurrency ETFs.The wave of filings has come as a result of US President Donald Trump softening the SECs regulatory posture toward crypto after taking office in January.Magazine:Solana will be a trillion-dollar asset: Mert Mumtaz, X Hall of Flame