The world’s largest issuer of cryptocurrency ETPs, 21Shares, announced the listing of the world's first crypto ETP for the the Terra (LUNA) token in CHF, EUR, and USD on the SIX Swiss Exchange.
Terra is the world's second-largest ecosystem after Ethereum, with $18.8bn in total value locked (TVL). TVL is the key metric to describe the number of assets being staked in a blockchain protocol. 21Shares Terra ETP (ISIN: CH1145931015, Ticker: LUNA) provides a solution for investors looking to gain access to an alternative ecosystem that is not based on the Ethereum Virtual Machine (EVM).
Emerging ecosystem
Terraform Labs was founded in 2018 by Daniel Shin, Co-Founder of TicketMonster, an South Korean e-commerce platform, and by Do Kwon, a former Microsoft and Apple software engineer. The Terra ecosystem includes DeFi (Decentralized Finance) infrastructure, financial tools applications, and NFT solutions. The most important innovation in the ecosystem is its DeFi solution Anchor. The Anchor protocol generates attractive yields for investors with borrowing and lending solutions.
“We have been following the Terra ecosystem for a long time and have been very impressed with its development and traction. We are thrilled to offer investors the world’s first listed ETP tracking this innovative product.” - Hany Rashwan, CEO 21Shares
The underlying Terra blockchain technology allows up to 10,000 transactions per second (TPS) and with a transaction time of 2 seconds. In contrast, Ethereum processes 15-30 transactions with a transaction time of over 1 minute . Finally, the transaction costs are very low. As of January 2022, 21Shares manages more than $2+ billion in 22 cryptocurrency ETPs and 83 listings, including the world’s only ETPs tracking Binance Coin (BNB), 4 Crypto Index Baskets and two ETPs with investor staking rewards (Tezos and Solana). Its products are listed on ten regulated European and Swiss trading exchanges.
