21Shares debuts two crypto index funds offering exposure to Bitcoin, Dogecoin and more

Cryptocurrency exchange-traded fund provider 21Shares launched two crypto index ETFs, providing investors with exposure to bitcoin, Solana, Ethereum, and Dogecoin.

The firm launched the 21Shares FTSE Crypto 10 Index ETF, ticker symbol TTOP, and the 21Shares FTSE Crypto 10 ex-BTC Index ETF, ticker symbol TXBC, on Thursday. Both were the first crypto index ETFs to be registered under the Investment Company Act of 1940 to launch, 21Shares said in a statement.

"Many of our clients have asked for a simple, regulated way to access the market as a whole rather than choosing individual tokens," said Federico Brokate, global head of business development at 21Shares, in the statement. "With TTOP and TXBC, we’re bringing that familiar, diversified approach to digital assets, giving investors a single point of access to a broad set of leading cryptocurrencies within a structure designed to adjust as the market evolves."

The 21Shares FTSE Crypto 10 Index ETF has a management fee of 0.50% and tracks a "market cap-weighted index" of the 10 biggest cryptocurrencies. Meanwhile, the 21Shares FTSE Crypto 10 ex-BTC Index ETF has a management fee of 0.65% and invests just in crypto and blockchain networks "that focus on real-world applications beyond Bitcoin’s macro hedge proposition." 21Shares launched both those ETFs with adviser Teucrium, according to the statement.

Firms looking to launch crypto ETFs either try to list through the Investment Company Act of 1940 or the Securities Act of 1933. The 1940 Act regulates investment funds that pool capital from investors to pursue a common investment strategy in an effort to protect investors from conflicts of interest and fraud.