Swiss-based company 21Shares has announced the launch of the first fund linked to decentralized exchange dYdX, marking a significant step towards the adoption of decentralized finance.
Launch of dYdX ETP
21Shares, one of Europe’s largest issuers of crypto exchange-traded products, has introduced the first fund tied to dYdX. Notably, dYdX has processed over $1.4 trillion in cumulative trading volume with over 230 perpetual markets. The new fund will be supported by the dYdX Treasury subDAO through DeFi treasury manager, kpk.
Expansion Plans for dYdX
It has been reported that a staking feature for DYDX will be introduced soon, along with an auto-compounding mechanism for generated rewards. dYdX is expected to enhance its functionality with Telegram-based trading and a spot market tied to Solana.
Crypto Derivatives Market
The launch of dYdX ETP coincides with a growing interest in crypto derivatives among traditional and centralized crypto exchanges. Kraken, Cboe, and Bitget are also expanding their offerings in this space, indicating an increasing demand for financial contracts that allow traders to speculate on digital asset prices without direct ownership.
The launch of the dYdX ETP by 21Shares highlights the growing interest in decentralized finance within institutional environments and the evolving crypto derivatives market.
