21Shares has launched the Cronos Exchange-Traded Product (ETP), providing regulated access to Crypto.com’s Cronos (CRO) token.

This new financial product is available on the Euronext Paris and Euronext Amsterdam platforms, allowing traditional brokerage account holders to invest without the need for cryptocurrency wallets.

Trading under the ticker CRON, the Cronos ETP comes with a 2.5% annual fee and aims to simplify cryptocurrency investments for mainstream investors.

The launch of the Cronos ETP comes at a time of increasing demand for altcoin ETFs, particularly following the recent approval of spot Bitcoin ETFs, which have collectively amassed over $100 billion in assets.

This initiative aligns with a growing market demand for blockchain-based financial infrastructure, offering portfolio diversification through a rapidly expanding network.

Eric Anziani, President and COO of Crypto.com, highlighted the importance of expanding trading opportunities in cryptocurrency to enhance mainstream engagement and expressed support for the Cronos ecosystem.

The Cronos network currently boasts a total value locked (TVL) of $400 million, which includes $64 million from Crypto.com’s liquid Ether staking token, Staked ETH.

The Cronos ETP meets increasing regulatory demands for crypto products that comply with traditional financial standards, catering to a broader range of investors.

Despite the ETP launch, CRO's price remains under pressure, having decreased by approximately 1.4% as of the launch date, reflecting the overall downturn in the cryptocurrency market.

Cronos operates as a Layer 1 blockchain solution, supporting decentralized finance (DeFi), NFT marketplaces, and decentralized applications (dApps), and integrates with Ethereum and Cosmos ecosystems.

The Cronos blockchain was designed to facilitate communication between centralized and decentralized financial systems, further enhancing its utility in the digital economy.

21Shares is not only expanding its offerings of crypto-linked ETPs but is also pursuing registration for altcoin-based exchange-traded funds (ETFs) in the U.S., reflecting a broader acceptance of crypto-based financial products.