Key Highlights
- 21Shares launches dYdX ETP, expanding to 48 European crypto products
- dYdX surpasses $1.5 trillion in trading volume with 15,000 weekly traders
- New ETP strengthens institutional access to decentralized derivatives
21Shares Expands Crypto Lineup With Launch of dYdX ETP
Investment firm 21Shares has rolled out its latest exchange-traded product (ETP), the 21Shares dYdX ETP (ticker: DYDX). The product is already available for trading on Euronext Paris and Euronext Amsterdam, giving European investors easier access to one of the most prominent decentralized derivatives platforms.
According to the company, the ETP is 100% physically backed and tracks the performance of the DYDX token. This provides exposure to dYdX, a leading decentralized exchange protocol known for pioneering perpetual futures contracts.
With this addition, 21Shares now manages 48 cryptocurrency ETPs in Europe, representing $11 billion in assets under management.
dYdX’s Growing Role in Decentralized Derivatives
The launch comes amid rapid growth for dYdX in the decentralized derivatives market. In July alone, the platform processed $7.7 billion in trading volume, attracting around 15,000 weekly active traders.
Since inception, dYdX has facilitated more than $1.5 trillion in cumulative trading volume, representing over 20% of the total decentralized perpetual contracts market, estimated at $7.2 trillion.
“Leveraging its first-mover advantage, dYdX has become one of the most innovative and dynamic projects in the decentralized derivatives space,” said Mandy Chiu, Head of Financial Product Development at 21Shares. “The 21Shares dYdX ETP is a natural extension of our European portfolio, giving investors institutional-grade exposure.”
Institutional Access and Expansion Strategy
The significance of the launch extends beyond just a new product. Charles d’Ossi, CEO of the dYdX Foundation, called the ETP “a landmark move that gives institutional investors the opportunity to leverage DYDX’s cutting-edge technology and reimagine the future of the crypto derivatives market.”
The new product follows 21Shares’ broader expansion strategy in both Europe and the U.S. Earlier this year, the company applied to the U.S. Securities and Exchange Commission to launch spot SUI and ONDO ETFs, signaling an intent to broaden its reach in regulated markets.
As institutional interest in crypto derivatives grows, the introduction of the dYdX ETP reinforces 21Shares’ position as one of Europe’s leading issuers of digital asset investment products.
