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DUBAI (Reuters) - Crypto investment products firm 21.co said on Wednesday its subsidiary 21Shares AG has listed a bitcoin exchange-traded product on Nasdaq Dubai, making it the Middle East's first physically-backed bitcoin ETP.
The 21Shares Bitcoin ETP trades, under the ticker ABTC, in the same way as the 21Shares Bitcoin ETP in Europe, 21.co said in a statement.
Dubai has ambitions to become a global cryptocurrency hub and has attracted big industry players to set up shop like Binance, which went on a UAE hiring spree this year and is helping to shape the Middle East commercial hub's virtual assets regulations.
Following the Dubai listing, 21Shares has 46 listed products in seven countries, 21.co added.
Swiss-based 21.co last month raised $25 million in a funding round that valued it at $2 billion, which it said made it "Switzerland's largest crypto unicorn".