CETH builds on the Company’s mission to make
crypto assets more accessible, straightforward for investors, and
serves as a testament to the asset class’s global momentum
NEW YORK, July 23,
2024 – 21Shares US LLC ("21Shares"), an affiliate of
21Shares AG, one of the world’s largest issuers of crypto exchange
traded funds (ETFs), today announced the launch of the 21Shares
Core Ethereum ETF (CETH). CETH is not a fund registered under the
Investment Company Act of 1940, as amended (“1940 Act”), and is not
subject to regulation under the 1940 Act, unlike most exchange
traded products or ETFs. CETH is subject to significant risk and
heightened volatility. The fund is not suitable for all
investors.
With a total expense ratio (TER) of 0.21%, CETH’s investment
objective is to seek to track the performance of Ether (ETH), the
second-largest crypto asset by market capitalization. In addition,
CETH represents 21Shares’ latest addition to its growing lineup of
US products and underscores the firm’s growth and commitment to the
US market.
Ethereum is a decentralized smart-contract platform that
revolutionized the world of blockchain. ETH, the native crypto
asset of the network, is the fuel that allows Ethereum to operate
in the same way that we use oil to propel vehicles, heat buildings,
and produce electricity in the physical world. Much like Bitcoin,
Ethereum is a peer-to-peer network where transactions are recorded
in a publicly available, decentralized ledger. What’s different
about Ethereum is that it launched out of Bitcoin’s initial
limitation as a simple settlement layer where people send and
receive coins. From the start, Ethereum positioned itself as the
infrastructure for building applications similar to websites or
mobile applications on top of a fully decentralized internet. In
other words, Ethereum provides a globally permissionless app store
and a platform for Web3 – a new iteration of the world wide web –
innovation.
Since 2018, 21Shares has pioneered the innovation of crypto
asset exchange traded products (ETPs) globally, with listings on
some of the biggest, most-liquid securities exchanges around the
world, including London Stock Exchange, Nasdaq OMX, Euronext Paris
and Amsterdam, Deutsche Börse Xetra, and SIX Swiss Exchange. This
allows investors to gain exposure to crypto through their existing
bank or brokerage, removes complexity around tax reporting, and
offers investors better custody and operational risk management
than holding physical crypto.
"21Shares is at the forefront of a financial revolution, as
investor demand for crypto asset ETF continues to ramp up in
lock-step with evolving regulatory frameworks around the world. Our
mission – to make crypto assets more accessible to investors, and
to bridge the gap between traditional finance and decentralized
finance – is now more attainable than ever. There is a growing
acceptance that crypto is here to stay and will play a role in the
evolution of the financial system,” said Ophelia Snyder, Co-founder
and President of 21Shares.
Synder continued, “While Bitcoin is often classified closely
with commodities, Ethereum presents a unique investment case. As a
platform that fuels innovation and powers the next generation of
the internet, Ethereum aligns more closely with technology
investments, marking an exciting potential opportunity for
investors. CETH, as the latest addition to 21Shares’ growing US
product lineup, represents an important step for crypto asset
accessibility to US investors and we’re thrilled to bring this
product to the US market.”
CETH is 21Shares’ seventh product in the US and underscores
21Shares’ continued growth in the US market, which now includes
over $3.2bn in assets under management and nearly 50 full-time
employees.
Since its inception, 21Shares has a track record of advancing
innovative crypto asset products, creating a bridge for investors
between traditional finance and decentralized finance, and has
demonstrated operational and client service excellence with a focus
on transparency, risk management, and sustainability.
Press Contact: 21Shares: Audrey Belloff,
audrey.belloff@21.co
About 21Shares US LLC 21Shares
US LLC serves as the sponsor to the the 21Shares Core Ethereum ETF.
21Shares US LLC is an affiliate of 21Shares AG, one of the world’s
leaders in providing access to crypto through TradFi and DeFi.
21Shares AG issues cryptocurrency-backed exchange traded products
(ETPs) outside the United States in a number of global markets.
21Shares AG’s ETPs are built on its proprietary operating system,
Onyx, which is also available to third parties. For more
information, please visit www.21Shares.com/en-US.
Important Information
Investing involves risk, including the possible
loss of principal. There is no assurance that the Trust will
generate a profit for investors. The Trust may not be suitable for
all investors.
The Trust is not an investment company
registered under the Investment Company Act of 1940 or a commodity
pool for purposes of the Commodity Exchange Act. Shares of
the Trust are not subject to the same regulatory requirements as
mutual funds. These investments are not suitable for all investors.
Trusts focusing on a single asset generally experience greater
volatility. There are special risks associated with short selling
and margin investing. Please ask your financial advisor for more
information about these risks.
Ether is a relatively new asset class, and the
market for ether is subject to rapid changes and uncertainty. Ether
is largely unregulated and ethereum investments may be more
susceptible to fraud and manipulation than more regulated
investments. Ether is subject to unique and substantial risks,
including significant price volatility and lack of liquidity, and
theft. The value of an investment in the Trust could decline
significantly and without warning, including to zero.
Ether is subject to rapid price swings,
including as a result of actions and statements by influencers and
the media, changes in the supply of and demand for ether, and other
factors. There is no assurance that ether will maintain its value
over the long-term.
Failure by the Trust’s Ether Custodian to
exercise due care in the safekeeping of the Trust’s ether could
result in a loss to the Trust. Shareholders cannot be assured that
the Ether Custodian will maintain adequate insurance with respect
to the ether held by the custodian on behalf of the Trust.
The Trust is not actively managed and will not
take any actions to take advantage, or mitigate the impacts, of
volatility in the price of ethereum.
An investment in the Trust is not a direct
investment in ethereum. Investors will also forgo certain rights
conferred by owning ethereum directly.
Shares of the Trust are generally bought and
sold at market price (not NAV) and are not individually redeemed
from the Trust. Only Authorized Participants may trade directly
with the Trust and only large blocks of Shares called “creation
units.” Your brokerage commissions will reduce returns.
Shares in the Trust are not FDIC insured
and may lose value and have no bank guarantee.
This material must be accompanied or preceded by
a prospectus (link to the prospectus once live).
Carefully consider the Trust’s investment objectives, risk factors,
and fees and expenses before investing. For further discussion of
the risks associated with an investment in the Trust please read
the Trust’s prospectus.
The Marketing Agent is Foreside Global Services,
LLC.21Shares US LLC is the Sponsor to the Trust.21Shares is not
affiliated with Foreside Global Services, LLC.
© 2024. 21Shares US LLC. No part of this
material may be reproduced in any form, or referred to in any other
publication, without written permission.
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