21Shares Lists dYdX ETP on Euronext, Unlocking $4T DeFi Access

TLDR:

• 21Shares lists the first-ever dYdX ETP on Euronext Paris and Amsterdam, expanding regulated access to DYDX.
• The ETP is fully physically backed, offering bank and brokerage investors secure exposure to the dYdX token.
• dYdX reports $7.7B trading volume in July and 15,000 weekly active traders, showing strong on-chain activity.
• Launch brings 21Shares’ crypto ETP lineup to 48, with $11B AUM across Europe, solidifying its market presence.
  

European crypto investors now have a new way to access one of DeFi’s most traded assets. 21Shares has officially launched the first exchange-traded product tracking dYdX, giving professional traders exposure through traditional markets. 

The new product lists on Euronext Paris and Amsterdam, opening the door for custody-ready DYDX exposure. The launch expands 21Shares’ European offerings and reflects rising demand for decentralized derivatives. The dYdX Foundation confirmed the launch on X, marking a major step for institutional access to the token.

21Shares Expands Crypto ETP Lineup with DYDX

The ETP, trading under the ticker DYDX, is 100% physically backed. 

According to 21Shares, it tracks DYDX’s market performance and is available to investors using standard banking or brokerage accounts. The firm reported that this addition brings its total European lineup to 48 crypto ETPs with $11 billion in assets under management.

The product aims to give institutional investors a regulated, exchange-traded option for gaining exposure to one of the leading decentralized exchanges. dYdX has processed more than $1.5 trillion in cumulative trading volume and represents over 20% of all decentralized perpetuals traded globally.

The platform’s growth has remained steady. It still attracts more than 15,000 weekly active traders and generated $7.7 billion in July trading volume, according to data shared in the announcement.

21Shares stated that the ETP reflects its goal of delivering easy access to innovative blockchain projects. Mandy Chiu, Head of Financial Product Development at 21Shares, said dYdX was a natural fit for its product lineup because of its unique approach to decentralized perpetuals.

dYdX Tokenomics and Market Positioning

The dYdX chain has distributed more than $50 million in USDC rewards to users, creating real cash flows rather than inflationary rewards. The foundation believes this strengthens token value and creates a sustainable feedback loop for long-term holders.

Unlike competitors, the platform focuses on recurring USDC payouts that return value directly to users. This approach is meant to build trust and align incentives between traders and the protocol.

Charles d’Haussy, CEO of the dYdX Foundation, said the launch allows institutions to engage with the project in a fully regulated setting. He added that the product can help bridge the gap between traditional finance and decentralized derivatives markets.

The listing on Euronext is expected to drive more professional participation as Europe continues to develop crypto investment infrastructure. With perpetual futures becoming a key trading instrument, demand for regulated access to DYDX may increase through 2025.

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