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21Shares launches ETP for Bitcoin L2 network Stacks

Leading crypto exchange-traded product (ETP) issuer 21Shares has launched a product offering exposure to Bitcoin (BTC) layer2 (L2) network Stacks (STX).

According to an April 4 statement, the 21Shares Stacks Staking ETP  is listed on the BX Swiss Exchange under the ticker ASTX.

21Shares described the product as “the world’s first ETP offering exposure to Stacks.”

Arthur Krause, director of ETP product at 21Shares, said:

“ASTX provides a unique opportunity for investors, as there are currently no other investment products providing exposure to Stacks on the market.”

Stacks is a Bitcoin L2 network with a separate ledger to store data outside Bitcoin L1. The protocol allows developers to build decentralized applications (dApps) similar to those on other smart contract-enabled blockchains like Ethereum.

The protocol is one of the best-performing digital assets, rallying by more than 330% in 2023, according to CryptoSlate’s data.

Earlier in the year, crypto investment fund North Rock Digital’s founder Hal Press said his fund had taken a long-term position in STX.

The post 21Shares launches ETP for Bitcoin L2 network Stacks appeared first on CryptoSlate.

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