21Shares, a Swiss Crypto ETP issuer, has chosen CryptoCompare, a digital asset market data specialist, to provide settlement pricing for all of its single asset ETP data effective 1 June 2021.
The daily delivery of high-quality data to the market to 21Shares’ stakeholders is paramount to ensuring market participants can correctly price with confidence the liquidity profiles investors demand in actively growing crypto markets.
21Shares, the Swiss innovation-led crypto ETP issuer, whose product range includes bitcoin, ether, as well as HODL Basket ETP and its newly launched stellar and cardano bitcoin ETPs, is opening up investment in cryptocurrencies which currently lists 14 ETPs on the Zurich SIX as well Frankfurt and Vienna exchanges.
21Shares’s goal is to expand its network of European banks, asset managers, brokers and exchanges enabling market participation. In order to achieve this goal, 21Shares uses many service providers in order to mitigate any concerns using live data in volatile and sometimes abrupt trading periods in the underlying crypto asset, a key feature required for the success of its institutional grade ETPs.
CryptoCompare was the distinct choice for 21Shares. Since launching in 2014, CryptoCompare has become an integral data resource, bridging the gap between digital asset markets and traditional finance. Its proprietary data infrastructure captures, normalises, and distributes data feeds on an intraday /daily basis across the entire suite of 21Shares’ single asset ETPs. CryptoCompare is already the ‘go to’ provider of digital asset market data and calculation services for reference pricing, supporting a wide range of products.
Charles Hayter, CEO and Co-Founder of CryptoCompare, says: “We are delighted to be working with 21Shares as their chosen digital asset data service provider. In light of the recent growth in digital asset markets, this partnership will undoubtedly support greater investment into cryptocurrencies, bolstering 21Share’s trusted product suite with CryptoCompare’s premium data offering.”
Ophelia Snyder, Co-Founder and President of 21Shares AG, adds: “As a highly innovative firm driving change in how investors access crypto assets, we choose our partners carefully and diligently. CryptoCompare has shown an equal drive to transform the market for reliable crypto data using innovative technology and adapt it in an ever demanding industry. Providing us with the most accurate seamless daily data, forms an essential part of our expansion and market participation. CryptoCompare is the right partner to make this happen.”
