TL;DR
- 21Shares launched an ETP linked to the DYDX token, providing institutional investors regulated access to one of the leading DeFi protocols.
- The product is physically backed by custodied DYDX tokens and operates with support from the dYdX Treasury subDAO.
- DYDX has handled over $1.4 trillion across 230 perpetual markets, and the ETP allows investment in a manner similar to a traditional ETF, with liquidity and efficient pricing ensured.
Swiss firm 21Shares introduced a new Exchange-Traded Product (ETP) tied to dYdX’s native token, DYDX, giving institutional investors regulated access to one of the main decentralized derivatives protocols.
The ETP is physically backed by custodied DYDX tokens and operates with the support of the dYdX Treasury subDAO through its operator kpk, ensuring institutions can trade securely and in compliance with regulations.
DYDX has accumulated over $1.4 trillion in trading volume across more than 230 perpetual markets. The protocol maintains full sovereignty and decentralization, with community governance and 50 independent validators. Its focus on perpetual futures sets it apart from other DeFi platforms and provides investors access to a derivatives segment traditionally dominated by centralized exchanges.
21Shares: A Toolkit for Institutional Investors
The 21Shares ETP simplifies investing in DYDX, offering access similar to a traditional ETF. Liquidity and efficient pricing will be maintained through Flow Traders, with daily creations and redemptions aligned with net asset value. The product structure allows institutions to allocate capital selectively to DYDX or integrate it within broader DeFi exposure, complementing 21Shares’ previous ETPs on Aave, Uniswap, and ChainLink.
The launch reflects the operational and regulatory maturity of the DeFi ecosystem and responds to professional investors’ growing interest in on-chain derivatives. Currently, DeFi derivatives account for less than 1% of global markets, which exceed $100 trillion in notional value. DYDX is expanding its capabilities toward Telegram trading, spot access on Solana, real-world asset futures, and staking programs with fee reductions.
21Shares’ offering combines security, compliance, and operational ease, providing a regulated institutional gateway to one of the most dynamic DeFi protocols
