21Shares Launches Four New Crypto ETPs for ONDO, PYTH, RENDER and NEAR
Crypto product firm 21Shares is launching new exchange-traded products (ETPs) centered around four prominent digital assets.
In a new thread on the social media platform X, the world’s largest ETP provider says it is launching ETPs for oracle provider Pyth (PYTH), decentralized graphics processing protocol Render (RENDER), real-world assets-focused Ondo Finance (ONDO), and layer-one blockchain Near Protocol (NEAR).
“Big news: Four game-changing ETPs just released! Introducing our newest products focused on oracles, tokenization, decentralized computing, and artificial intelligence.”
In its product descriptions, 21Shares notes that each ETP is 100% “physically” backed up by its associated token.
News of the ETPs saw all four of the altcoins surge into the green. RENDER and ONDO are trading for $7.73 and $1.05 at time of writing while PYTH and NEAR are valued at $0.446 and $6.68, respectively.
Earlier this week, Wisdom Tree – another asset manager and exchange-traded fund (ETF) issuer – announced that it would be filing in the state of Delaware to create an ETF centered around XRP, the digital asset associated with Ripple Labs’ payments platform.
In early November, 21Shares also submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) for an XRP ETF. The proposed product would be called the “21Shares Core XRP Trust,” though no launch date was mentioned.
XRP is trading for $1.47 at time of writing, a 6.52% increase during the last 24 hours.
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The post 21Shares Launches Four New Crypto ETPs for ONDO, PYTH, RENDER and NEAR appeared first on The Daily Hodl.
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Vancouver mayor eyes Bitcoin to bolster city reserves against economic shocks
Vancouver Mayor Ken Sim has unveiled a groundbreaking proposal to add Bitcoin (BTC) to the city’s financial reserves, citing its potential to protect purchasing power and diversify resources.
The motion, which will be discussed by the council on Dec. 11, aims to position the city as a leader in digital asset adoption.
The proposal, titled “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city,” highlights Bitcoin’s decentralized and finite nature as a hedge against inflation and economic instability.
Financial hedge
Mayor Sim’s motion argues that traditional financial reserves alone may no longer be enough to shield cities like Vancouver from economic shocks. By exploring Bitcoin as part of its reserves, the city aims to diversify its holdings and safeguard its purchasing power in an era of increasing monetary instability.
According to Sim:
“Bitcoin offers a unique opportunity to protect against the erosion of value.”
While the city would take a measured approach, he emphasized the importance of adapting to financial innovations that could benefit taxpayers.
Bitcoin advocate Jeff Booth has rallied behind the proposal, calling it a “game-changer” during a live discussion on X Spaces. Booth, a Vancouver native, likened Bitcoin to digital gold, highlighting its potential to stabilize long-term value and its increasing adoption as a strategic asset globally.
Global trend
Vancouver’s exploration of Bitcoin aligns with a growing movement among governments and policymakers worldwide.
The idea has gained widespread traction amid the recent shift in US sentiment, which is rumored to be in the process of setting up a federal Strategic Bitcoin Reserve under incoming President Donald Trump.
Additionally, former Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo has championed Bitcoin as a national reserve asset, citing its parallels to traditional commodities like gold.
He compared Bitcoin’s early-stage volatility to the dot-com bubble, predicting that the technology underpinning it will evolve into a foundational element of global finance.
This momentum is mirrored in policy discussions across various jurisdictions, where Bitcoin is increasingly viewed not as a speculative tool but as a mechanism for economic durability. Both Pennsylvania and Texas have introduced bills to create Bitcoin reserves and rumors suggest several more states are going to join them in the coming weeks.
The post Vancouver mayor eyes Bitcoin to bolster city reserves against economic shocks appeared first on CryptoSlate.
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