21Shares, a leading issuer of crypto exchange-traded products in Europe, has launched the first fund tied to dYdX, a decentralized exchange focused on perpetual futures. The dYdX platform has processed over $1.4 trillion in trading volume and features more than 230 perpetual markets. The fund aims to facilitate institutional access to dYdX through regulated ETP, enhancing DeFi adoption. Following the launch, features such as staking and an auto-compounding reward system will soon be introduced. The ETP, tickered DYDX, will be available on Euronext Paris and Amsterdam. This launch comes as traditional and centralized exchanges expand their crypto derivatives offerings, including Kraken's derivatives arm and Cboe's planned continuous futures for Bitcoin and Ether. Open interest in crypto derivatives currently stands at approximately $3.96 billion for futures and $984 billion for perpetual contracts, highlighting the growing significance of derivatives in the crypto market.

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