The Swiss digital asset manager 21Shares has launched its first two crypto index ETFs in the United States. With this move, one of Europe’s leading crypto ETP providers officially enters the US market, relying on a fund structure designed to make digital asset exposure more accessible for institutional investors.
The two ETFs – the FTSE Crypto 10 Index ETF and the FTSE Crypto 10 ex-BTC Index ETF – each track a broad basket of major cryptocurrencies. According to official reports, both products are registered under the Investment Company Act of 1940, subjecting them to stricter regulatory standards than many previous US crypto products.
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Details on the new index ETFs
The FTSE Crypto 10 Index ETF (TTOP.P) is offered with a management fee of 0.50% and tracks the ten largest cryptocurrencies by market capitalization – including Ethereum, Solana, XRP, Dogecoin, and other leading assets. Complementing it, the FTSE Crypto 10 ex-BTC Index ETF (TXBC.P) focuses on the same broad exposure without Bitcoin and applies a fee of 0.65%.
Both funds are based on indices from the data provider FTSE Russell, part of the London Stock Exchange Group. Through the index construction, investors receive diversified allocation across multiple large layer-1 assets as well as selected smart contract platforms, without the single-asset risk of holding an individual coin.
Regulatory framework and strategic significance
By choosing the ’40 Act structure, 21Shares is deliberately positioning itself within the tightly regulated segment of US investment funds. Products under this regime are subject to clear transparency, liquidity, and risk management requirements, making them particularly appealing to pension funds, asset managers, and other institutional market participants.
The launch comes at a time when US investors are increasingly seeking regulated crypto basket solutions – especially after spot ETFs for Bitcoin and Ethereum have already gained broad market acceptance. With the introduction of two diversified crypto index ETFs, 21Shares aims to fill a market gap: providing access to several top coins through a single product that offers not just speculative exposure, but structured, institution-grade allocation.
21Shares also plans to further expand its presence in the US market, as competition for multi-asset crypto products intensifies. The new funds may therefore be an early sign that traditional fund managers and specialized digital asset firms are increasingly competing for market share in the US crypto sector.
