21Shares has introduced an exchange-traded product (ETP) in the U.S. that tracks the price of Cronos, a cryptocurrency associated with Crypto.com, which facilitates decentralized finance interactions and NFT activities. This launch reflects a growing interest in altcoin-based investment options, as evidenced by increasing applications for altcoin funds by various issuers in the U.S. market. The ETP aims to provide investors with regulated exposure to the blockchain ecosystem fostering real-world crypto adoption. Cronos operates across both Ethereum and Cosmos networks, highlighting its versatility. The move comes amid rising investor interest and the potential for increased participation in decentralized finance. The price of Cronos was noted at approximately $0.08636 at launch, amidst market fluctuations. This initiative by 21Shares showcases a significant step towards integrating cryptocurrency into traditional investment vehicles and underscores the evolving landscape of digital assets in the U.S. financial system.

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