21shares Launches Lighter and Venice Crypto ETPs in Europe

21shares has launched two physically backed cryptocurrency exchange-traded products in Europe, providing investors with conventional brokerage exposure to Lighter’s LIT token and Venice’s VVV token. According to CryptoNews, the products debuted on October 20.

The 21shares Lighter ETP trades under the ticker LIHT on Deutsche Börse Xetra, while the 21shares Venice Token ETP is listed as VENC on Switzerland’s SIX exchange. Both financial instruments carry an annual fee of 2.50% and are backed by their respective underlying cryptocurrencies, according to the company's announcement.

Exchange Listings and Structure

Deutsche Börse independently confirmed the listing of LIHT with an October 20 start date. The exchange features two trading lines for the same product, with the euro-denominated security using LIHT and the U.S. dollar line using LIHU, both sharing the ISIN CH1615641755. The exchange classifies the instrument as a crypto exchange-traded note, allowing investors to gain exposure to LIT's price without directly holding tokens in their personal wallets.

The Venice ETP, VENC, tracks the cryptocurrency associated with an artificial intelligence platform designed to limit the retention and exposure of user information. According to the issuer's product page, Anchorage Digital Bank and BitGo serve as custodians for the Venice ETP, while Flow Traders and Virtu Financial Ireland act as authorized participants and market makers. The product launched with 65,000 securities outstanding and an initial net asset value of $20 per security, representing $1.3 million in assets.

Underlying Businesses

The listings introduce exchange-traded access to two distinct sectors: Lighter’s decentralized perpetual futures platform and Venice’s privacy-focused artificial intelligence services. Lighter uses zero-knowledge technology to verify order matching and liquidation processes, directing revenue toward LIT repurchases and token burns. Venice provides an API compatible with OpenAI's interface and allocates portions of subscription revenue and API credit purchases toward token buybacks and burns, though 21shares notes that owning VVV grants no equity or governance rights.

Key facts

• 21shares launched Lighter and Venice crypto ETPs on October 20 in Europe.
• The Lighter ETP trades on Deutsche Börse Xetra under LIHT (euro) and LIHU (U.S. dollar).
• The Venice Token ETP is listed on the SIX Swiss Exchange under VENC.
• Both exchange-traded products charge an annual fee of 2.50%.
• The Venice ETP reported an initial net asset value of $20 per security across 65,000 outstanding securities.