21Shares launches first ETP tracking dYdX, may open institutional on‑ramp to DeFi derivatives

• 21Shares launches the first dYdX ETP (ticker: DYDX) on Euronext Paris and Amsterdam.

• The product is supported by the dYdX Treasury subDAO and a DeFi treasury manager, enabling a regulated on‑ramp for institutions.

• dYdX has processed over $1.4 trillion cumulative trading volume and lists 230+ perpetual markets (source: Cointelegraph, CoinMarketCap).

21Shares dYdX ETP offers institutional exposure to dYdX perpetual markets via Euronext listings — learn about staking, roadmap, and derivatives context. Read more.

What is the 21Shares dYdX ETP and how does it work?

The 21Shares dYdX ETP is a regulated exchange-traded product that tracks the native dYdX token, delivering institutional access to a decentralized perpetuals protocol through standard ETP infrastructure. The product is physically backed and supported by the dYdX Treasury subDAO and a DeFi treasury manager, kpk.

How will the ETP enable institutional access to dYdX?

By packaging dYdX token exposure inside an ETP traded on Euronext Paris and Amsterdam, 21Shares creates a familiar custody and trading wrapper for institutions. The ETP integrates regulatory compliance, custody solutions and a marketable ticker (DYDX), reducing operational friction compared with direct DeFi participation.

What details did 21Shares and dYdX provide about the launch?

Switzerland-based 21Shares announced a physically backed ETP for the dYdX token intended to open institutional channels into DeFi derivatives. The dYdX Treasury subDAO and DeFi treasury manager kpk are supporting the product. 21Shares confirmed staking and an auto-compounding rewards feature will follow shortly after launch.

Per statements shared with media, dYdX has processed more than $1.4 trillion in cumulative trading volume and supports over 230 perpetual markets (source: Cointelegraph). The ETP will trade under the ticker DYDX on Euronext Paris and Euronext Amsterdam.

Why does this matter for crypto derivatives markets?

The dYdX ETP arrives as centralized and traditional exchanges expand derivatives offerings. Product wrappers like ETPs make decentralized derivatives accessible to institutional investors who require regulated instruments, custody, and settlement frameworks.

Futures vs. Perpetuals volume growth over the past year. Source: CoinMarketCap

How does this compare to broader derivatives activity?

Traditional venues and centralized exchanges continue to scale derivatives: Kraken launched a CFTC-regulated derivatives arm after a strategic acquisition; Cboe announced plans for long-dated “continuous futures” for Bitcoin and Ether; and Bitget reported $750 billion in derivatives volume for August, with cumulative derivatives volume above $11.5 trillion (source: Cointelegraph).

Frequently Asked Questions

How can institutions buy the DYDX ETP?

Institutions can buy the DYDX ETP via brokers and custodians that support Euronext-listed products. The ETP trades like other exchange-traded instruments under ticker DYDX.

Is staking available at launch?

Staking is planned post-launch. 21Shares stated it will add DYDX staking with an auto-compounding feature that channels rewards into token buybacks.

Key Takeaways

• Regulated access: The 21Shares dYdX ETP offers a regulated avenue for institutional exposure to a DeFi perpetuals protocol.
• DeFi support: The product is backed by the dYdX Treasury subDAO and DeFi manager kpk, aligning on‑chain governance with an ETP wrapper.
• Market context: Launch coincides with broader growth in crypto derivatives across centralized and traditional exchanges.

Conclusion

The 21Shares dYdX ETP represents a notable step toward institutional integration of decentralized derivatives markets by bringing the dYdX token into an exchange‑listed, regulated format. Watch for the upcoming staking rollout and roadmap items as the product migrates from launch to ongoing market adoption.

Author: COINOTAG — Published: 2025-09-10 — Updated: 2025-09-11

Sources referenced: Cointelegraph reporting and CoinMarketCap data (mentioned as plain text; no external links provided).