Key Takeaways
- 21Shares and Crypto.com are partnering to launch a Cronos (CRO) private trust and ETF.
- The new products aim to provide regulated, mainstream investor access to the Cronos blockchain ecosystem.
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21Shares US is teaming up with Crypto.com to create regulated investment products tracking the Cronos (CRO) token, including a private trust and ETF, according to a Monday statement.
“We are proud to partner with Crypto.com to help expand investor access to the Cronos ecosystem through innovative and transparent investment products,” said Federico Brokate, Global Head of Business Development. “This collaboration reinforces our commitment to delivering institutional-grade regulated exposure to the most relevant crypto assets.”
The collaboration seeks to expand regulated access to the Cronos blockchain, an Ethereum-compatible layer 1 blockchain utilizing the Cosmos SDK, known for its low transaction costs and high scalability.
Recently, Crypto.com applied for a federal charter with the US Office of the Comptroller of the Currency to enhance its custody solutions and expand Cronos-related services.
“Providing more ways for traders to engage with cryptocurrencies is central to our vision of further mainstreaming crypto,” said Eric Anziani, President and COO of Crypto.com. “Crypto.com is a long-time supporter of and contributor to the Cronos blockchain, and we are excited to partner with 21Shares to enable more investors to participate in the CRO journey ahead.”
The announcement follows earlier collaborative efforts by the firms to drive innovation in both the crypto and traditional finance sectors.