21Shares Launches USDY, the World’s First USD Yield ETP

21Shares Launches USDY, the World’s First USD Yield ETP

The 21Shares USD Yield ETP provides investors collateralized dollar-denominated yield at the rate of 5%

Zürich- May 25, 2022 – 21Shares AG (“21Shares”), the world’s largest issuer of cryptocurrency exchange traded products (ETPs), today announces the listing of the 21Shares USD Yield ETP (USDY). USDY provides collateralized dollar-denominated yield at the rate of 5%. USDY generates yield by taking in US dollars and lending them to counterparties against a minimum of 110% collateral in BTC and ETH marked-to-market daily. The yield is generated by lending USD to well known counterparties in the crypto space.

After more than a decade of historically low interest rates and high asset values combined with a highly inflationary environment, investors face extraordinary challenges in building cash portfolios. The 21Shares USDY ETP enables yield-seeking investors to participate directly in the profits of lending USD in the crypto space without taking any direct crypto price exposure. The returns generated are added directly to the net asset value (NAV) of the ETP.

“We’re in an environment where real interest rates are negative and we’re really excited to offer a first of its kind product that can provide meaningful risk adjusted yield. USDY does this by tapping into the crypto capital markets where rates are higher while also providing liquidity,” said Ophelia Snyder, President and co-founder at 21Shares. “With USDY, we’re introducing a financial product fully dedicated to providing yield – and minimizing risk while reaffirming the vision of 21Shares, to build bridges into the crypto world.”

The 21Shares USDY ETP will be listed on SIX Swiss exchange as of May 25, 2022 and is available to investors in USD.

The launch of this product follows 21Shares’ recent rollouts of the first Bitcoin and Ethereum ETFs in Australia, the world’s first Bitcoin and Gold ETP on the SIX Swiss Exchange and their entrance into the US markets with two crypto index funds. To learn more about the 21Shares USDY ETP or 21Shares, please visit www.21shares.com.

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Product Details

Security Designation	21Shares USD Yield ETP
Fee	0.30%
ISIN	CH0577286005
Issuer	21Shares AG
Exchange Listing	SIX Swiss Exchange
Custody	Copper
Market Maker	Flow Traders