Switzerland’s 21Shares Launches dYdX ETP As Institutions Eye Derivatives

21Shares has launched the first exchange-traded product tied to dYdX, a decentralized exchange focused on perpetual futures.

The Switzerland-based issuer, among Europe’s largest crypto ETP providers, said the product creates a regulated entry point for institutions to access DeFi markets. dYdX has processed over $1.4 trillion in trades and lists more than 230 perpetual markets, with the ETP supported by a DeFi treasury subDAO.

The launch also includes plans for staking, where rewards will be automatically compounded into token buybacks, expanding utility for investors. Beyond the ETP, dYdX is preparing new offerings such as Telegram-based trading, a Solana spot market, perpetuals linked to equities and indexes, and a fee discount program for token stakers.

The DYDX ETP will trade on Euronext Paris and Amsterdam under the ticker DYDX. 21Shares called the launch a milestone for DeFi adoption, arguing that it brings decentralized platforms into a familiar investment wrapper for traditional finance players.

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