21Shares Hits 50 Crypto ETPs in Europe With Launch of AI and Raydium-Focused Products

21Shares is launching two new crypto exchange-traded products (ETPs), bringing its total offerings in Europe to 50 ETPs.

The new listings include the 21Shares Artificial Superintelligence Alliance ETP (AFET), which tracks a group of decentralized AI protocols, including Fetch.ai, SingularityNET, Ocean Protocol, and CUDOS, and the 21Shares Raydium ETP (ARAY). ARAY offers exposure to Solana-based decentralized exchange Raydium’s token.

Both ETPs are token-backed and trade on major European exchanges. AFET is listed on Euronext Amsterdam and Paris, while ARAY trades on the SIX Swiss Exchange, according to a press release.

“With these new launches, 21Shares now offers investors access to 50 physically backed crypto ETPs across Europe,” said Duncan Moir, the firm’s president. The company manages more than $11 billion in assets globally.

CoinDesk Indices, a subsidiary of CoinDesk, is the index provider for the 21Shares Raydium ETP, as well as more than 40 ETPs across 21Shares’ product suite.

In 2018, 21Shares issued the world’s first token-backed crypto ETP. Since then, it has expanded its exchange-listed product offering across various sectors of the crypto ecosystem.

While the number of crypto ETPs being traded in Europe vastly outnumbers the offerings in the United States, they’re dwarfed in terms of trading volume and assets under management.

Crypto ETPs in Europe currently have around $23.24 billion in assets under management, according to ETFBook data, while spot bitcoin and ether ETFs in the United States have over $174 billion in AUM.