Swiss asset manager 21Shares has launched a new exchange-traded product (ETP) tied to dYdX, offering institutional investors secure and regulated access to one of DeFi’s largest perpetual futures protocols. The ETP is physically backed by DYDX tokens and supported by the dYdX Treasury subDAO and its operator, kpk. The DYDX ETP is designed to meet the growing demand for regulated DeFi products and aligns with institutional standards for compliance, security, and transparency. The product is now trading on Euronext Paris and Amsterdam under the ticker DYDX. The DYDX ETP is designed to empower institutions to harness DYdX’s pioneering technology while maintaining its sovereignty and decentralization. With the addition of DYDX, 21Shares now offers 48 crypto ETPs across European exchanges, solidifying its position as the region’s largest crypto ETP issuer. The launch aligns with dYdX’s broader development plans, which include telegram-based trading, a new spot market starting with Solana, perpetual contracts linked to real-world assets, a staking program with auto-compounding rewards into DYDX token buybacks, expanded deposit options across fiat and stablecoins, and a fee discount program for stakers.