Crypto investment products company 21Shares has launched a physical BTC exchange product (ETP) in the Middle East, which will be traded on the Nasdaq Dubai exchange.
21Shares continues its expansion worldwide, and on the eve of its parent company raised $ 25 million with a total valuation of $ 2 billion. At the moment, 21Shares has launched about 46 digital products listed on more than 10 exchanges in 7 countries.
The representative of 21Shares, Sherifa El-Haddad, stated that the Persian Gulf region is a strategically important market for the company’s business development due to the availability of great opportunities.
In 2021, the BTC exchange-traded fund (ETF) of the Canadian digital asset manager 3iQ launched trading on the Nasdaq Dubai exchange. At that time, the 3iQ ETF became the first cryptocurrency fund that started trading in the Persian Gulf countries.
The Dubai authorities have big plans for the development of the digital economy of the region. The new Dubai metaverse strategy launched in the summer is designed to attract more than 1,000 blockchain and metaverse companies to the region, in addition to creating about 40,000 virtual jobs by 2030.