21Shares Files for First Crypto Basket ETFs Under the Investment Company Act of 1940
21Shares Introduces First-Ever Crypto Basket ETFs Under 1940 Act
July 18, 2025, New York – 21Shares US LLC has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) proposing two innovative exchange-traded funds (ETFs): the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF.
Pioneering Crypto Investment Products
These ETFs are the first crypto basket funds registered under the Investment Company Act of 1940. Each fund aims to provide investors with diversified access to the evolving cryptocurrency market through bespoke indexes developed by 21Shares and overseen by FTSE Russell.
Fund Details
21Shares FTSE Crypto 10 Index ETF: This ETF tracks a market capitalization-weighted index consisting of the world’s top ten cryptocurrencies. The dynamic nature of the index ensures it adjusts according to the growth and success of each digital asset, allocating higher weights to leading players in the crypto space.
21Shares FTSE Crypto 10 ex-BTC Index ETF: Excluding Bitcoin, this ETF focuses on cryptocurrencies and blockchain ecosystems with practical real-world applications beyond Bitcoin’s traditional role as a macroeconomic hedge.
Rigorous Selection Process
Assets included in each index undergo a thorough, two-stage review process by both 21Shares and FTSE Russell, ensuring a robust and transparent composition.
Investor-Friendly Structure
By structuring these ETFs as 1940 Act funds, 21Shares provides a familiar, regulated, and potentially more tax-efficient experience for U.S. investors. Investors benefit from simplified Form 1099 tax reporting, avoiding the complexity of K-1 forms commonly associated with other investment vehicles.
Industry Collaboration and Strategic Focus
Federico Brokate, Head of U.S. Business at 21Shares, stated, “These filings highlight our commitment to regulatory engagement and to providing U.S. investors with diverse, accessible ways to participate in the digital asset market’s long-term growth.”
Kristen Mierzwa, Head of Digital Assets at FTSE Russell, added, “Our partnership with 21Shares has led to the development of innovative digital asset indices, supporting strategic allocation for investors. Offering both Bitcoin-inclusive and Bitcoin-exclusive market exposure demonstrates our drive for innovation in the industry.”
The launch is backed by ETF Solutions by Teucrium, who acts as the adviser, providing expertise for product development and efficient market entry.
Registration Status and Next Steps
A registration statement for the ETFs has been filed with the SEC but is not yet effective. The availability and approval of the funds remain subject to regulatory review.
About 21Shares
21Shares AG, an affiliate of 21Shares US LLC, is among the leading providers of cryptocurrency exchange-traded products (ETPs) globally. Since launching the first physically-backed crypto ETP in 2018, 21Shares has built a comprehensive suite of innovative, cost-effective investment solutions for digital assets. Backed by cutting-edge technology, in-house research, and capital markets expertise, the company continues to bridge traditional and decentralized finance.
21Shares operates under the umbrella of 21.co, a global leader in decentralized finance.
This content is for informational purposes only and does not constitute financial advice.
