21Shares unveils dYdX ETP, opening DeFi derivatives to institutions

The institutional integration of decentralized finance (DeFi) continues its momentum with the launch of the **21Shares dYdX ETP**, marking a significant step for traditional investors seeking exposure to decentralized derivatives. This new product provides a regulated gateway to one of the most prominent platforms in the DeFi sector, debuting on Euronext Paris and Euronext Amsterdam. The 21Shares dYdX ETP (ticker: DYDX) is designed as a 100% physically backed instrument tracking the price performance of the DYDX token. This token is central to the dYdX protocol, a pioneering decentralized exchange facilitating the trading of perpetual futures contracts. Its introduction expands 21Shares' European cryptocurrency product lineup to 48 ETPs, contributing to the firm's substantial $11 billion in total assets under management.

Navigating Decentralized Derivatives

The underlying dYdX platform has established itself as a leader in the decentralized derivatives segment. In July alone, it processed an impressive $7.7 billion in trading volume, engaging approximately 15,000 active traders weekly. Over its operational history, dYdX has accumulated more than $1.5 trillion in trading volume, capturing over 20% of the total $7.2 trillion market for decentralized perpetual contracts. This market share underscores its pioneering role and robust activity within the DeFi ecosystem. Mandy Chiu, Head of Financial Product Development at 21Shares, highlighted the strategic rationale behind the new ETP. "Thanks to its first-mover advantages, the dYdX platform has impressively secured a significant portion of the decentralized perpetual contracts market. The 21Shares dYdX ETP is a natural extension of our European portfolio, granting investors access to one of the most innovative and dynamic projects in decentralized derivatives." Charles d’Haussy, CEO of dYdX Foundation, further emphasized the broader impact, stating, "A dYdX-based ETP is a landmark step that gives institutional investors the opportunity to leverage advanced DYDX technology and reimagine the future of the crypto derivatives market." This launch is consistent with 21Shares' broader strategy of actively expanding its product portfolio across both European and U.S. markets, reflecting a growing demand for regulated and accessible investment vehicles in the digital asset space.