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Ledger Nano X - The secure hardware wallet
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Developments Regarding XRP Relevant To 21Shares’ ETPs

29 December 2020
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Zurich – December 29, 2020 – In the U.S., the U.S. Securities and Exchange Commission (SEC) alleged that XRP had been illegally marketed to retail customers. As a result of this, XRP is affected by severe price developments and illiquidity.

On December 23, 2020, the Bitwise Select 10 Large Cap Crypto Index (BITS10), the Index serving as the Underlying for the 21Shares’ KEYS ETP, was reconstituted in accordance with the applicable Index Methodology. XRP was removed as an Underlying Component from the Index and the respective XRP were reallocated to the remaining Underlying Components as per the respective announcement.

On December 24, 2020, MV Index Solutions GmbH as the index administrator of the 21Shares Crypto Basket Index (HODL5), the Index serving as the Underlying for HODL, decided and announced in line with the applicable Index Guide that XRP be removed from the 21Shares Crypto Basket Index (HODL5) and, therefore, as an Underlying Component for HODL. The replacement Underlying Component will likely only be communicated on the Monthly Rebalance Date. Based on Condition 9.3 and Condition 18, the Issuer has exercised its discretion and, to protect Investors’ interests, decided to sell the XRP and to invest the proceeds in Bitcoin (BTC) and Ethereum (ETH) currently serving as an Underlying Component (proportional to current allocations). Such proceeds will be invested in the replacement Underlying Component as soon as known in line with ordinary rebalancing procedures. time period, to remove XRP from the basket following the announcement of the Index Provider.

“As part of our quick intervention, the board was able to remove XRP using its broad network of liquidity providers in order to liquidate its XRP position with the ultimate aim of reducing market impact and protecting investors to which it was able to achieve”, said Hany Rashwan CEO and Chairman of the board of directors of 21Shares, “thanks to our trusted partners, our main objective remains to replicate accurately our index and we were able to successfully conduct this ad hoc task despite the difficult trading conditions”.

The board of directors of 21Shares wishes to inform the market that it is also monitoring the situation in regard to AXRP, the single asset ETP tracking the underlying component XRP.

Affected ETPs:
HODL – 21Shares Crypto Basket ETP (CH0445689208)
KEYS – 21Shares Bitwise Select 10 ETP (CH0475986318)
AXRP – Single asset ETP in relation to price developments:21Shares XRP ETP (CH0454664043)

MVIS publication under
https://mvis-indices.com/news/index-updates/mvis-to-remove-xrp-from-digital-assets-indices

The listing prospectus is available in English free of charge from the registered office of the Issuer or on its website https://21shares.com/ir#prospectus.

About 21Shares

21Shares makes investing in crypto assets as easy as buying shares using your conventional broker or bank. Investors can invest in cryptocurrencies using a conventional ETP structure (or tracker) easily, with total confidence and security, cost effectively thanks to the 21Shares suite of ETPs launched by 21Shares and now composed of 11 Crypto ETPs : the 21Shares Crypto Basket Index ETP (HODL:SW), 21Shares Bitcoin (ABTC:SW), 21Shares Ethereum (AETH:SW), 21Shares XRP (AXRP:SW), 21Shares Bitcoin Cash ETP (ABCH:SW), 21Shares Binance ETP (ABNB:SW), 21Shares Tezos ETP (AXTZ:SW), 21shares Bitcoin Suisse ETP (ABBA:SW), 21Shares Bitwise 10 ETP (KEYS:SW), Sygnum Platform Winners Index ETP (MOON:SW) and 21Shares Short Bitcoin ETP (SBTC:SW). The entire suite is listed on a regulated framework on the official market of Deutsche Boerse, SIX Swiss Exchange, BX Swiss and some on Boerse Stuttgart in CHF, USD, GBP and EUR respectively. Founded in 2018, 21Shares is led by a team of talented serial entrepreneurs and experienced banking professionals from the technology and financial world. Incorporated in Zug, with offices in Zurich and New York, the company has launched several world firsts, including the first listed crypto index (HODL) in November 2018. 21Shares has 11 crypto ETPs listed today and has over $239 million in AuM in total listed products.

Press Contact

Laurent Kssis +41 44 260 86 60 press@21Shares.com

Disclaimer
This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan.This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States.This document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iv) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (v) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The Securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. In any EEA Member State (other than the Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Ireland, Italy, Luxembourg, Malta, the Netherlands, Norway, Spain and Sweden) that has implemented the Prospectus Regulation (EU) 2017/1129, together with any applicable implementing measures in any Member State, the “Prospectus Regulation”) this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation. Exclusively for potential investors in Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Ireland, Italy, Luxembourg, Malta, the Netherlands, Norway, Spain and Sweden the 2019 Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com. The approval of the 2019 Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the 2019 Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand. This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. This document constitutes advertisement within the meaning of the Swiss Financial Services Act and not a prospectus. Copies of the current Base Prospectus dated 13 November 2020 are available free of charge from the website of the Issuer. Subject to applicable securities laws, the Base Prospectus and the final terms of any product mentioned herein can be obtained from 21Shares AG on the website. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.



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