21shares

Something massive is happening on the @LSEplc for Crypto ETNs.

Today marks 1 year since the FCA lifted the cETN retail ban and, as suspected, UK investor demand has surged.
📊$1.6B+ total volume in 12 months
📊$137M monthly average volume(~ 9x pre-ban lift)

Thanks to UK investors for making 21shares the preferred crypto ETN issuer with a 36% market share average with $412M+ traded.

Source: Bloomberg as of September 30, 2026

1/ September is usually Bitcoin’s worst month.
In 30 days we saw:
• Fed rate hike
• 20-year high Treasury yields
• $100 oil & Strait of Hormuz closure
• Failed crypto bill in the Senate

Yet $BTC absorbed every shock and closed up +6.2% instead.
See why in this month's State of Crypto 👇

📊LATEST: Crypto ETPs just had their second-strongest month in a year

$4.6B flowed into crypto ETPs & ETFs globally in September.

Bitcoin: $2,758M
Ethereum: $865M
Solana: $278M
XRP: $154M

While May and June saw $6.9B leave, August and September brought $10.6B back.

Source: Bloomberg

Gen Z has crypto.
Millennials have crypto.
The financial advisors are catching up. 🏃💨

A watchlist is just a group chat you have with yourself 💬

Introducing the 21shares ether.fi ETP ($ETHFI) - now live on @Euronext Amsterdam & Euronext Paris.

Looking like a neobank, @ether_fi's crypto-debit card business is seeing tremendous growth, driving ~10% of all stablecoin card spend and making up 50% of protocol revenue.*

Transparent. Exchange-traded. Physically backed.

*Source: Dune, Defillama, Paymentscan

Privacy has a new ETP. 🛡️

The 21shares Zcash ETP ($ZCASH) is now live on @Euronext Amsterdam & Euronext Paris — the first Zcash ETP available to European investors.

Built on Bitcoin's foundational monetary architecture that fixes its supply cap at 21 million coins, Zcash introduces optionality through cryptographic shielded transactions, giving users control over transaction transparency.

Meet $ZCASH: No wallets. No seed phrases. Just physically-backed, exchange-traded exposure to $ZEC.

Liquid restaking turned staked ethereum:native into something you could actually use.

But that’s only half the story.

@ether_fi is also a place to spend, save, and earn on assets without leaving the chain.

$ETHFI is coming tomorrow.

Nearly a decade in the making…one of crypto’s longest-running privacy experiments gets a new form soon.

zcash:native 👀

Big things next week. 👀

A guide to understanding ripple:native in 4 articles

We spent a week breaking down ripple:native: who actually controls it, why we hold it, where the real on-chain activity lives, and how it fits in a portfolio.

Full recap 🧵👇:

How does ripple:native fit in a portfolio?

Instead of sizing it off vibes and price targets, we built a framework off the actual thesis instead.

🚨Spoiler alert: lumping all digital assets into a single, undifferentiated bucket is a portfolio-construction error.

$4B in tokenized assets.
~$1.6B RLUSD stablecoins.
Both live on the same ledger ripple:native runs on: XRPL.

Here's the part a lot of people miss: none of it trades in ripple:native.

Our thesis is that more activity eventually lifts demand for it, not that it's denominated in it.

Full breakdown 👇

Every digital asset needs two things: a reason to exist, and a reason to appreciate.

Our ripple:native investment case rests on 4 pillars:
regulatory clarity, institutional access, measurable utility, and fixed supply.

One is fully resolved. The other three are still playing out.

Read our full investment case👇

ripple:native might be crypto's most misunderstood 13-year-old.
Everyone has an opinion on it. Few can explain how it actually works, starting with the biggest myth of all: that @Ripple controls it.

In reality, Ripple runs just 1 validator out of 35 on the ledger's default trust list.

Inventing the road ≠ controlling the traffic.

We untangle the rest in "A guide to one of crypto's veterans" 👇

Memecoin trading on @Solana once drove the blockchain's revenue spike but its spot trading volume fell from 40% to 16% from H1 2025 to H1 2026.

As that faded, something interesting happened: our H1 2026 analysis shows stablecoin swaps grew from 6% to 19% of spot volume, and general trading rose from 41% to 53%.

Despite falling revenue, Solana now dominates equity token trading (~97% of onchain spot RWA volume) and out-earns Ethereum in absolute revenue — at roughly 22% of ETH's market cap.

📊 LATEST: Crypto ETPs just had their best month in almost a year 👀

After two consecutive months of outflows, $6.1B of global inflows returned to crypto ETPs in August — the strongest month since October 2025.

bitcoin:native inflows did most of the heavy lifting ($3.66B) with $ETH inflows following closely ($1.76B).
$SOL, ripple:native and basket inflows all came in green as well ($190M).

One month isn't a trend but this is a reversal worth watching.

⚡️ New milestone unlocked: $CBTC has officially hit a record $550M in AUM on 24 August 2026.

✅ 10 bps management fees extended up until June 30, 2027
✅ One of the most liquid Bitcoin ETPs in Europe

Thank you to our clients for trusting us on this historic journey.

Next stop: $1 Billion

Big news: Starting 1 September 2026, we're introducing staking to $XDCN and changing the product name to reflect the update.

Same ticker, new name: 21shares XDC Network Staking ETP.

@21shares 🤝 @xdcnetwork

🌐 We're excited to partner with @FTSERussell to standardize the underlying benchmark index framework for our ETP suites across Europe, the US and Australia.

The FTSE Russell is a leading global index provider and sees over $20 trillion in assets benchmarked to its indices worldwide. As crypto moves into multi-asset institutional portfolios, this update is designed to deliver a unified pricing and governance framework to digital asset investors worldwide.

We will transition select US-listed, single-asset ETFs to FTSE Russell digital asset indices at market open tomorrow 27 August 2026.

The underlying asset exposures, fund legal structures, custodians, primary exchange listings, and fee schedules remain unchanged across all products.