After adding Polkadot (DOT) to its crypto index, 21Shares is launching an “exchange-traded artifact (ETP)” for the Web3 network’s cryptocurrency.
Polkadot ETP to be launched
Investment artifact provider 21Shares is launching an ETP under the stock PDOT for the Web 3 network’s DOT cryptocurrency. The work is offered for sale on the Swiss SIX stock exchange on February 4. This ETP is the world’s first ETP for the growing parachain network.
Polkadot has recently announced that it has been added to the 21Shares cryptocurrency index. This work, called “HODL”, allows users to; makes it possible to access various leading cryptocurrencies. Other cryptocurrencies with large market prices such as Bitcoin and Ethereum were also included in this basket.
Polkadot’s payload in this “basket” comes in second quickly on the Bitcoin scale. Its dominance compared to other cryptos is 26.79%.
PDOT ETP is the first artifact to invest solely in Polkadot. Primarily for individual investors.
Web 3 attracts attention
The Polkadot network is growing rapidly, home to innovations such as multi-chain synthetic indices and Solidity-compatible smart contract platforms. The network’s ecosystem includes various “parachains” that originate from the mainnet to smooth scalability. It is different from Ethereum which is working towards layer-2 and sharding implementation and dealing with the completion of Ethereum 2.0.
Amid the notable parachains are Moonbeam, and Polkadot’s counterpart to DeFi, the Acala Network.
Like Ethereum, Polkadot hopes to become the core module of a decentralized world called “Web3”. For more information about Web 3, “What is Web 3.0?” You can take a look at our article named Kriptokoin.com . While its growing network is focused on interoperability with multiple other chains, according to experts; It could one day become a major competitor for Ethereum in the race to catch up with DeFi.
Polkadot has recently become the fifth largest blockchain by market cap. The market capitalization of the network is $15.9 billion, according to CoinGecko. Read more about Polkadot in “What is Polkadot (DOT)?” You can find it in our article.