21Shares expands Crypto Winter suite

Crypto ETP issuer 21Shares has announced the addition of two new Ethereum products to its Crypto Winter Suite: the 21Shares Short Ethereum ETP (SHETH) and the 21Shares Ethereum Core ETP (CETH).

The 21Shares Short Ethereum ETP (SHETH) seeks to provide a -1x return to the performance of Ethereum for a single day. This product obtains short exposure through borrowing Ethereum and simultaneously selling it on an execution platform.  This is similar to the existing 21Shares Short Bitcoin ETP (SBTC).


The 21Shares Ethereum Core ETP (CETH) seeks to provide investment exposure to Ethereum as the world’s lowest cost physically-backed Ethereum ETP. CETH has a total expense ratio (TER) of 21 basis points (a nod to the 21 in the company’s name) and is 44 basis points cheaper than any other physically-backed Ethereum ETP on the market. The ETP can participate in collateralized lending allowing CETH to be one of the most competitively priced Ethereum ETPs on the market. The lending agreements with borrowers are executed through institutional grade lending partners. Loans are overcollateralized and monitored daily to protect the interest of shareholders. This is similar to the existing 21Shares Bitcoin Core ETP (CBTC).


Both products follow the recent rollouts of 21Shares’ Short Bitcoin and Bitcoin Core products as part of 21Shares’ Crypto Winter Suite, a set of products designed for the bear market.


Arthur Krause, Director of ETP Product at 21Shares says: “Today, 21Shares launched two new products that mirror existing 21Shares products – but provide exposure to Ethereum, rather than bitcoin.


Our successful bitcoin products – Short Bitcoin and Bitcoin Core – were built in response to investor demand for more ways to access bitcoin in a professionally-managed product – whether to short the underlying or gain exposure through the world’s lowest-priced bitcoin ETP.  Now - especially given the level of interest in Ethereum today - we wanted to provide investors with more options to enter the asset class with different products.”

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