21Shares announced the launch of the 21Shares DYDX Exchange-Traded Product (ETP), providing institutional investors direct access to the DYDX token used in the decentralized finance protocol dYdX.
Product Information
21Shares introduced the 21Shares DYDX ETP, a regulated investment product designed to provide institutional investors legitimate access to DYDX. This product is a physically backed product that tracks the value of the DYDX token, which is based on the dYdX Chain.
Support from dYdX and kpk
The launch of the ETP is supported by the dYdX Treasury subDAO through its operator kpk. Mandy Chiu, Head of Financial Product Development at 21Shares, emphasized that this ETP is a natural addition to the company's product lineup, providing institutional investors access to one of the first decentralized exchanges with perpetual futures.
Prospects of the Decentralized Finance Market
Global derivatives markets exceed $100 trillion in notional value, yet DeFi derivatives remain under 1% of this scale. The launch of the 21Shares DYDX ETP occupies a pivotal position amid the growing interest in DeFi, providing institutional investors with a regulated way to access this market. New features are also expected, such as Telegram Trading and integration with Solana.
The launch of the 21Shares dYDX ETP is a significant step towards integrating decentralized finance into traditional financial mechanisms, ensuring high levels of protection and accessibility for investors.
