21Shares Debuts dYdX ETP to Expand Institutional Access to DeFi Derivatives

- Regulated ETP provides institutional access to DeFi derivatives. - 21Shares dYdX ETP listed on Euronext Paris and Amsterdam under ticker DYDX. On September 11, 2025, Cointelegraph reported that 21Shares launched the first exchange-traded product (ETP) linked to dYdX, a decentralized exchange known for perpetual futures trading. The new ETP provides institutional investors with a regulated entry point to the decentralized finance (DeFi) derivatives market. The launch signifies a pivotal milestone in the institutional adoption of DeFi tools. 21Shares physically backs the dYdX ETP and structures it to mirror the performance of the DYDX token. Its listing on Euronext Paris and Amsterdam under the ticker DYDX enhances access to DeFi derivatives within a regulated framework. In addition, the platform aims to implement an auto-compounding staking mechanism. This innovative feature will generate staking rewards and automatically reinvest them into DYDX token buybacks. This initiative taps into a growing trend of institutional interest in cryptocurrency derivatives, as major traditional and centralized crypto exchanges are actively expanding their capabilities in this domain. For instance, Kraken recently launched a derivatives trading platform in the United States, with its operations overseen by the Commodity Futures Trading Commission (CFTC). Similarly, Cboe Global Markets plans to introduce “continuous futures” contracts for Bitcoin and Ether, a move that will further open doors for institutional engagement in crypto derivatives.