According to Odaily, 21Shares, the world's largest cryptocurrency exchange-traded product (ETP) issuer, has launched 21BTC, a native Bitcoin asset on Solana. This asset is 100% backed by BTC, with all reserves held by a third-party custodian on a 1:1 basis. The company has partnered with Orca, a well-known decentralized exchange (DEX) in the Solana ecosystem, to secure deep liquidity.
The launch of 21BTC on Solana marks a significant step in the expansion of 21Shares' offerings. The company, known for its extensive range of cryptocurrency ETPs, continues to innovate and adapt to the evolving digital asset landscape. The partnership with Orca further enhances the liquidity of the newly launched asset, ensuring a smooth trading experience for users.
This development is also a testament to Solana's growing influence in the cryptocurrency space. The blockchain platform has been gaining traction for its scalability and high-speed transaction capabilities, making it an attractive option for businesses like 21Shares. The launch of 21BTC on Solana not only expands the platform's offerings but also strengthens its position in the competitive blockchain market.
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