21Shares Breaks New Ground with First U.S. Multi-Crypto ETF Launch

Crypto just got a major legitimacy boost—whether Wall Street likes it or not.

Swiss ETF pioneer 21Shares storms the U.S. market with its first multi-crypto fund, giving investors a single ticker for diversified exposure. No more piecing together Bitcoin and altcoin positions like some DeFi hobbyist.

The institutional playbook is changing fast. While traditional finance still debates whether crypto belongs in portfolios, 21Shares is busy building the infrastructure to make it unavoidable. Another brick in the wall of 'mainstream adoption'—just don't look at the trading volumes.

Will this finally be the product that lets financial advisors recommend crypto without sweating? Probably not. But it's one more step toward forcing the old guard to play by the new rules.

Two new crypto funds for U.S. investors

The new ETFs are the FTSE Crypto 10 Index ETF (TTOP.P) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (TXBC.P), with fees of 0.5% and 0.65%, respectively. Instead of buying cryptocurrencies directly, 21Shares will gain exposure through its own exchange-traded products listed in Europe.

Duncan Moir, president of 21Shares, explained the difference between fund types: “There’s a difference in the tax treatment, and for professional investors, ’40 Act funds are really the Gold standard.” He added that single-coin ETFs are mostly used by everyday investors, while multi-coin index ETFs are likely to be used first by financial advisers and professionals. This is because no one yet knows which cryptocurrencies will succeed in the long term.

Moir also said the new ETFs enter the market in a volatile price environment. Bitcoin recently dropped below $100,000 for the first time since June. As a result, investors have remained cautious and taken profit from earlier gains.  Even so, 21Shares expects the new ETFs to grow steadily as more professional investors explore multi-coin crypto products.

Multi-coin ETFs are still new

Till now, only two U.S. multi-coin crypto ETFs existed, and both were ’33 Act funds, designed for riskier assets. Grayscale Investments converted its private fund into an exchange-traded product with Bitcoin, Ethereum, Solana, XRP, and Cardano. The Hashdex Nasdaq Crypto Index ETF also offers a mix of altcoins, while T. Rowe Price filed to launch a crypto index fund in October 2025.

The launch placed 21Shares as the first company to use the ’40 Act for a multi-coin crypto fund in the U.S. It gives investors a more regulated, professional option to invest in cryptocurrencies through a single product.

/Also Read: Czech Central Bank Launches $1M Crypto Test Portfolio