ZURICH - 21Shares AG, a Swiss-based issuer of Exchange Traded Products (ETPs), announced significant updates to its base prospectus and changes in its ETP structure, effective after five trading days from the issuance of the official notice on December 2, 2024.
The company has introduced Anchorage Digital Bank N.A. and BitGo Trust Company Inc. as additional custodians for its array of ETPs, which include products tied to cryptocurrencies such as Bitcoin and Ethereum. This update to the custodial structure is part of the broader changes detailed in the revised base prospectus, which was approved by the Swedish Finansinspektionen and deposited with BX Swiss AG for Swiss purposes on November 28, 2024.
Additionally, 21Shares AG has appointed KPMG AG as its auditor. In a move to increase transparency and investor confidence, the company has also stated that as of February 20, 2024, it will not engage in lending arrangements where it lends underlying assets or components to third parties.
Investors and interested parties are encouraged to review the updated prospectus to fully understand the amended terms and conditions. The updated document, along with previous versions, is available on the company's official website.
The notice made clear that this does not serve as an offer to sell or a solicitation of an offer to buy securities. It was also noted that the ETPs do not qualify as units of a collective investment scheme under Swiss law and are not subject to the same investor protections or FINMA supervision.
This update comes as the digital asset market continues to evolve, with institutional custodians playing a critical role in the security and integrity of investment products related to cryptocurrencies.
The information provided in this article is based on a press release statement from 21Shares AG.
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