21.co Expands its Wrapped Tokens Lineup with the Launch of Wrapped Bitcoin (21BTC) on Ethereum

21.co will launch 21BTC exclusively with leading market maker Flow Traders

Following the successful launch of 21BTC on Solana earlier this year, 21.co introduces 21BTC on Ethereum with upgraded security protocols, providing an alternative to existing products in the market

ZURICH, 3 September 2024 – 21.co, the parent company of 21Shares – one of the world’s largest issuers of crypto exchange traded products (ETPs), today announced the launch of 21.co Wrapped Bitcoin (21BTC) on the Ethereum blockchain in partnership with Flow Traders, one of the world’s largest market makers. 21BTC on Ethereum represents 21.co’s latest addition to its growing lineup of wrapped tokens. Having entered the wrapped tokens space in 2023, 21.co aims to usher in the next phase of decentralized finance (DeFi) and help enable DeFi’s broader adoption.

21.co wrapped Bitcoin is built by institutions and for the digital asset community with institutional security and strong mechanisms to ensure user protection. 21.co avoids vulnerable “lock-and-mint” approaches in favor of storing underlying assets in cold storage – no bridge required. In addition, assets are stored with institutional-grade, third-party custodians.

“As one of the world’s largest issuers of crypto ETPs, we bring stringent asset management best practices and our operational excellence to the world of wrapped assets, involving institutional-grade custodians and security protocols,” said Eliezer Ndinga, Head of Strategy and Business Development, Digital Assets at 21.co. “Users want to do more with their liquidity, yet at the same time they need assurances that their wrapped assets have the highest levels of safety. The launch of 21BTC on Ethereum allows customers to have peace of mind as they explore decentralized applications and new opportunities on the Ethereum blockchain – and 21.co is utilizing our knowledge and economies of scale managing crypto ETPs to make this a reality.”

As part of the launch of 21BTC on Ethereum, 21.co is working exclusively with leading market maker Flow Traders.

Commenting on today’s announcement, Michael Lie, Global Head of Digital Assets at Flow Traders, said: “As a global liquidity provider, we recognize the importance to increase the access to digital assets. Through the expansion 21Shares’ BTC wrapped, we believe the overall market will improve, it brings enhanced liquidity and enables improved interoperability across multiple blockchain networks. BTC wrapped leverages the leading digital asset, Bitcoin, which plays a crucial role in the growth of decentralized finance, acting as a critical source of collateral and enabling a wide range of financial activities, such as lending, borrowing, and trading. We are therefore committed to further developing our partnership with 21Shares and support BTC wrapped as the exclusive liquidity provider and expanding investor choice through this expanded product suite.”