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.com’s Cronos token, the asset manager said.
The ETP is listed on Euronext’s 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.
“By 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 2025
The 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.com’s liquid Ether staking token, Crypto.com Staked ETH, which has nearly $64 million in TVL, the data shows.
Altcoin ETFs abound
On 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 Chain’s native token, BNB. The chain is affiliated with Binance, the world’s 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 Commission’s (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 SEC’s regulatory posture toward crypto after taking office in January.
Magazine: Solana ‘will be a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame
According to Norwegian authorities, more than 73,000 people in the country reported on $4 billion in crypto holdings for the 2024 tax year.
The local industry has welcomed the Australian Securities and Investments Commission’s expanded crypto guidance, but resourcing concerns remain.
Migrant sex offender Hadush Kebatu has been deported to Ethiopia following his mistaken release from prison.
Footage captured from Heathrow Airport showed the moment he was escorted on to a plane on Tuesday night.
The government says he has no right to return to the UK.
Home Secretary Shabana Mahmood said she “pulled every lever” to deport Kebatu.
“I am pleased to confirm this vile child sex offender has been deported. Our streets are safer because of it,” she said.
Hadush Kebatu was arrested on Sunday after his mistaken release
Kebatu was found and arrested by the Metropolitan Police in the Finsbury Park area of north London at around 8.30am on Sunday following a manhunt.
Last month he was found guilty of sexually assaulting a schoolgirl and a woman in Epping, Essex, just over a week after arriving in the UK on a small boat.
He was expected to be deported, but instead of being handed over to immigration officials he was released from HMP Chelmsford on Friday.
He spent just under 48 hours at large before he was apprehended.
The accidental release sparked widespread alarm and questions over how a man whose crimes sparked protests in Epping over the use of asylum hotels was able to be freed.
Ms Mahmood said: “Last week’s blunder should never have happened – and I share the public’s anger that it did.”
Anti-asylum demonstrators in Epping, Essex. Pic: PA
On Sunday, Justice Secretary David Lammy said an exclusive Sky News interview will be used as part of an independent inquiry into the mistaken release.
Speaking to Sky’s national correspondent Tom Parmenter, a delivery driver who spoke to Kebatu at HMP Chelmsford described him as being “confused” as he was being guided to the railway station by prison staff.
The migrant is said to have returned to the prison reception four or five times before leaving the area on a train heading to London.
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‘My family feels massively let down’
Mr Lammy, who put Kebatu’s release down to human error, said he ordered an “urgent review” into the checks that take place when an offender is released from prison, and new safeguards have been added that amount to the “strongest release checks that have ever been in place”.
From Monday, new checks include five pages of instructions and demands that more senior prison staff sign off a release, according to documents obtained by Sky News.
“I have been clear from the outset that a mistake of this nature is unacceptable, and we must get to the bottom of what happened,” said Mr Lammy.
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