First dYdX ETP Launched by 21Shares, Targeting Institutional Demand for Crypto Derivatives

Reading Time: < 1 minute

21Shares has launched the first exchange-traded product (ETP) tied to the dYdX token (DYDX), directly responding to growing institutional interest in crypto derivatives.

The new product offers exposure to the dYdX decentralized exchange, a platform specializing in perpetual futures with a historic trading volume exceeding $1.4 trillion.

The ETP is physically backed, with assets managed by the dYdX Treasury subDAO and kpk. A key feature, staking rewards for the underlying tokens, will be activated post-launch.

“This will include an auto-compounding feature—generating rewards auto-compound into DYDX token buybacks,” a company spokesperson stated. This move significantly lowers the barrier to entry for major investors seeking regulated DeFi exposure.