21Shares Switches Index Providers, Updates Crypto Reference Pricing

Event summary

  • 21Shares will appoint FTSE International Limited as an additional index administrator, effective March 26, 2026.
  • The crypto asset reference prices for 21Shares’ Bitcoin, Ethereum, and Core ETPs will change on March 26, 2026.
  • Existing reference prices based on the ‘CCIX’ index will be replaced with FTSE-administered indices (FBTC1HRE, FETH1HRE).
  • The changes affect the 21Shares Bitcoin ETP (CH0454664001/ABTC), Ethereum Staking ETP (CH0454664027/AETH), Bitcoin Core ETP (CH1199067674/CBTC), and Ethereum Core Staking ETP (CH1209763130/ETHC).

The big picture

21Shares' decision to switch index providers and update reference prices signals a move towards potentially more standardized and widely recognized benchmarks within the crypto ETP space. This shift could be driven by a desire to enhance transparency, attract institutional investors, or align with evolving regulatory expectations. The move also highlights the ongoing evolution of crypto asset benchmarking, as providers seek to establish robust and reliable reference points for these volatile assets.

What we're watching

Index Methodology
The shift to FTSE indices may alter the performance tracking of the ETPs, potentially impacting investor returns and requiring adjustments to marketing materials and client communications.
Regulatory Scrutiny
The change in reference pricing, coupled with the introduction of a new index administrator, could attract increased scrutiny from regulators regarding the transparency and accuracy of the ETPs’ pricing mechanisms.
Competitive Landscape
Other ETP providers may evaluate their own reference pricing methodologies in response to 21Shares’ move, potentially leading to a broader shift in industry standards and increased competition.