21Shares, a major provider of cryptocurrency commutation-traded products, or ETP, is launching the earth'southward first Polkadot (DOT) ETP.

The new product, DOT ETP, will be listed on the Swiss 6 exchange on Feb. 4, 2021, 21Shares announced Tuesday.

The new ETP comes shortly after Polkadot was added to 21Shares' major ETP product Crypto Basket ETP (HODL) on Jan. 29. Tracking five major cryptos like Bitcoin (BTC) and Ether (ETH), HODL has removed Bitcoin Greenbacks (BCH) and is now listing Polkadot equally the second-largest elective after Bitcoin.

According to HODL ETP data from MVIS indices, Polkadot at present accounts for about 27% of the production, while Bitcoin makes up around 50% of the ETP.

A spokesperson for 21Shares told Cointelegraph that the company does not make decisions on calculation or deleting a certain nugget from the HODL ETP. The representative stated that such decisions are up to MV Index Solutions. "As an issuer, we cannot decide what to add together and delete [...] They take a committee which decides which constituents are added, increased, reduced or outright taken out."

Source: MV Index Solutions

According to the announcement, the improver of Polkadot to the 21shares Crypto Handbasket ETP makes information technology the "perfect timing to add an boosted single asset ETP to the already broad range of crypto ETPs" offered by 21shares.

21Shares CEO Hany Rashwan emphasized that the company remains committed to the demand seen from institutional investors. "Afterwards investors buy their get-go Bitcoins through our ETPs, there is a natural transition to invest in other crypto assets," Rashwan said. He added that the business firm plans to add two or three more than ETPs in the adjacent three months:

"We benefit from trusted partners for the liquidity provision and upon connected institutional demand, we are launching the DOT ETP to give investors a condom, regulated, and easy way to obtain exposure to this heady new blockchain engineering. In the next 3 months, we aim to add together 2 to iii more innovative ETPs."

Polkadot is a side by side-generation blockchain protocol connecting multiple specialized blockchains into one unified network. In mid-January 2021. Polkadot's native token DOT made the headlines by overtaking XRP as the fourth-largest cryptocurrency. At the time of writing, DOT is trading at $sixteen.82, up well-nigh 5% over the past 24 hours and around 82% over the by thirty days, according to data from CoinGecko.