Launch of New Crypto ETFs: 21Shares has introduced two new crypto index ETFs, the 21Shares FTSE Crypto 10 Index ETF (TTOP) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (TXBC), which are the first crypto index products registered under the Investment Company Act of 1940.
Investment Strategy and Fees: TTOP includes Bitcoin and charges a 0.50% fee, while TXBC focuses on blockchain applications without Bitcoin and charges 0.65%. Both funds offer a regulated way for investors to access a diversified basket of digital assets.
Market Context and Expectations: The launch occurs in a challenging market environment, with Bitcoin's value dipping below $100,000. 21Shares anticipates a slower uptake for these multi-coin funds compared to Bitcoin-focused products.
Industry Competition: The introduction of these ETFs comes as asset managers are actively trying to launch spot altcoin ETFs, with only two existing multi-coin index ETFs under the '33 Act, highlighting the competitive landscape in the crypto investment space.
Wall Street analysts forecast TXBC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TXBC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Wall Street analysts forecast TXBC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TXBC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 21.539
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Current: 21.539
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
