European crypto ETPs continue to attract interest

Digital assets manager 21Shares has announced the cross-listing of five crypto exchange-traded products (ETPs) on the Nasdaq Stockholm exchange.  With the move, the issuer has ten products listed on the Swedish exchange.

According to its official announcement, the newly listed ETPs are Uniswap (AUNI), Avalanche (AVAX), Bitcoin Gold (BOLD), Solana Core Staking (CSOL), and Ethereum Core (ETHC).

21Shares existing products on the exchange already include ETPs for Bitcoin (ABTC), Ethereum (AETH), Solana (ASOL), XRP (AXRP), and Bitcoin Core (CBTC).

According to the firm, its expansion is part of its effort to increase its presence in the Nordic region and give investors access to regulated and transparent digital asset products. Its head of Financial Product Development, Mandy Chiu, noted that these products allow investors to diversify their portfolios and make them more resilient.

She said:

“Our continued expansion in the Nordic region reflects the increasing demand from both retail and institutional investors for diversified and cost-effective crypto exposure.”

Meanwhile, the head of ETF & ETP for Nasdaq European Markets, Helena Wedin, expressed excitement about the new products from 21Shares. Hedin said that the new ETPs reflect the current wave of innovation in the financial sector while highlighting the exchange’s role in bringing the product to the masses.

21Shares sees over $200 million in outflows YTD

Meanwhile,  21Shares is Europe’s biggest digital assets product issuer, with listings on six exchanges, including Euronext Paris and Amsterdam, SIX Swiss Exchange, and London Stock Exchange. It has recently listed Hedera (HBAR) and Cronos (CRO) ETPs on Euronext Paris and Amsterdam.

However, its reach extends beyond Europe, with the asset issuer also having a spot in Bitcoin and Ethereum exchange-traded funds listed in the US. Interestingly, it is currently pending ETF applications for altcoins before the US Securities and Exchange Commission (SEC)

While it has dozens of ETPs, three of which are in the top 20 for assets under management (AUM) in Europe, 21Shares products have struggled with outflows from most of its products this year. According to CoinShares data, the firm currently has an outflow of $212 million year-to-date for its products.

The massive outflow is likely because most of the underlying products for its ETPs are altcoins, which have struggled to see sizable gains in 2025. Still, 21Shares reported a $4 million inflow last week, taking its month-to-date flow to a positive $6 million.

European crypto ETPs continue to attract interest

Despite the struggles of 21Shares, the crypto ETP market in Europe is growing.  Germany particularly has attracted significant inflows into digital assets products this year with $908 million, a record that is only bested by the US, according to CoinShares data.

Retail investors have been the driving force behind these inflows, but institutional investors are showing interest. According to ETF Stream, Fund-of-fund allocation to crypto ETPs has increased from €45 million to €138 million between 2023 and 2025.

While it still accounts for only a small portion of total asset under management (AUM) ETPs, it indicates that more professional investors are paying attention to crypto investment products.

Meanwhile, more retail investors will likely have access to crypto ETPs soon, with the Financial Conduct Authority (FCA) disclosing recently that it wants to lift the ban on retail investors buying crypto exchange-traded notes (ETNs). With the UK having about 30 ETNs listed on its exchange, the decision could attract more inflows to the asset class.

Interestingly, Europe has about 130 crypto ETPs listed across various exchanges, many of which are available to the public. However, the US could soon see as many products with more than 70 crypto ETF applications currently before the Securities and Exchange Commission (SEC).

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