Homburger advised 21Shares on the listing of three new series of crypto-linked exchange traded products as well as cross-listing of three existing series of crypto-linked exchange traded products on SIX Swiss Exchange

On August 29, 2025, September 17, 2025 and September 30, 2025, respectively, 21Shares AG, a leading global issuer of crypto exchange traded products (ETPs), successfully issued and listed three new series of crypto-linked ETPs on the SIX Swiss Exchange. The first series, 21Shares Hyperliquid ETP (HYPE), has Hyperliquid (HYPE) as underlying, the native token of Hyperliquid, a high-performance Layer 1 blockchain featuring a fully on-chain order book perpetuals exchange. The second series, 21Shares Raydium ETP (ARAY) tracks the performance of Raydium (RAY), the native utility token of an automated market maker and liquidity provider Raydium built on the Solana blockchain for the Serum decentralized exchange, that is used for staking to earn protocol fees, staking to receive IDO allocations and governance votes on protocol decisions. The third series, 21Shares Jupiter ETP (AJUP) is linked to Jupiter (JUP), the native cryptocurrency of the decentralized exchange aggregator and decentralized finance platform on the Solana blockchain Jupiter. All of these ETPs are traded in the trading currencies USD and EUR.

Further, on August 12, 2025, and September 16, 2025 21Shares AG successfully cross-listed three existing series of crypto-linked ETPs on the SIX Swiss Exchange. The first series, the 21Shares XDC Network ETP (XDCN), tracks the performance of XDC Network (XDC), the cryptocurrency that serves as the native utility token powering the XDC Network, a blockchain developed to support trade finance and the tokenization of real-world assets. The second series, the 21Shares Sui Staking ETP (ASUI), has Sui (SUI) as underlying, a native token of Sui network, a Layer 1 blockchain optimizing for low-latency blockchain transfers. The last series, the 21Shares Chainlink ETP (LINK), is linked to the performance of Chainlink (LINK), the cryptocurrency of Chainlink (LINK), the decentralized oracle network that connects smart contracts with off-chain data and services. These ETPs are traded on the SIX Swiss Exchange in the trading currency USD.

Homburger acted as Swiss legal counsel to 21Shares AG. The Homburger team was led by Benjamin Leisinger and included Sofiya Shavlak (both Capital Markets).