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21Shares, a major provider of exchange-traded cryptocurrency products, or ETP, is launching the world’s first Polkadot (DOT) ETP.

The new product, DOT ETP, will be listed on the Swiss SIX Stock Exchange on February 4, 2021. announced Tuesday.

The new ETP comes shortly after Polkadot was added to 21Shares’ flagship ETP product Crypto Basket ETP (HODL) on January 29. Tracking five major cryptos such as Bitcoin (BTC) and Ether (ETH), HODL Bitcoin Cash (BCH) and now lists Polkadot as the second largest constituent after Bitcoin.

According to HODL ETP data from MVIS indicesPolkadot now accounts for about 27% of the product, while Bitcoin makes up about 50% of the ETP.

A 21Shares spokesperson told Cointelegraph that the company does not make any decisions about adding or removing any particular asset from the HODL ETP. The representative stated that such decisions lie with MV Index Solutions. “As a publisher, we can’t decide what to add and remove […] They have a committee that decides which voters to add, increase, decrease, or outright remove. “

Source: MV Index Solutions

According to the announcement, the addition of Polkadot to the 21shares Crypto Basket ETP makes it “the perfect timing to add an additional single asset ETP to 21shares’ already wide array of crypto ETPs”.

Hany Rashwan, CEO of 21Shares, stressed that the company remains committed to the demand of institutional investors. “After investors buy their first Bitcoins through our ETPs, there is a natural transition to invest in other crypto assets,” said Rashwan. He added that the company plans to add two or three more ETPs in the next three months:

“We are benefiting from trusted liquidity supply partners and upon continued institutional demand, we are launching the DOT ETP to provide investors with a safe, regulated and convenient way to gain exposure to this exciting new blockchain technology. In the next 3 months, we want to add 2-3 more innovative ETPs. “

Polkadot is a next-generation blockchain protocol that connects multiple specialized blockchains in one unified network. Mid January 2021. Polkadot’s native token DOT made headlines Catching up XRP as the fourth largest cryptocurrency. At time of writing, DOT is trading at $ 16.82, up nearly 5% in the last 24 hours and about 82% in the last 30 days, according to data from CoinGecko.