The investment product issuer - 21Shares - listed the first physically-backed Bitcoin ETP in the Middle East.
a bitcoin exchange-traded product on the international financial exchange in the Middle East – Nasdaq Dubai. The feature will trade under the same ticker as in Europe – ABTC.
Adding the United Arab Emirates ETP, 21Shares now has 46 listed crypto products in seven different nations. Hany Rashwan – CEO and Co-Founder of 21Shares – praised the Middle East as an important area for the digital asset industry. He assured that the company will continue to support the region’s ambitions to become a global cryptocurrency center.Two months ago, 21Shares appointed Sherif El-Haddad as the head of the firm’s Middle East division. The executive is a firm proponent of the crypto sector, saying it could become “the asset of the future for investors and wealth managers around the world.
The organization’s expansion in that region could be beneficial since it is the fastest-growing cryptocurrency market . Local consumers have received over $566 billion in digital assets from July 2021 to June 2022, 48% more than what they obtained the year prior. For its part, the financial heart of the Middle East – Dubai – often makes the headlines in the crypto space. Over the past several months, the domestic watchdogs allowed leading exchanges, such as
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