(21BC) 21Shares Bitcoin Core ETP - Ratings and Ratios

The 21Shares Bitcoin Core ETP EUR (XETRA:21BC) is a digital asset exchange-traded product designed to provide investors with exposure to Bitcoin. It is listed on XETRA, a leading European exchange, and offers a regulated investment vehicle for accessing the cryptocurrency market. The ETP is structured as a collateralized debt instrument, meaning it is backed by Bitcoin holdings, allowing investors to gain exposure to Bitcoin without directly holding the asset.

From a technical perspective, the ETP is currently trading below its short-term and medium-term moving averages, with the last price of 19.23 EUR sitting below the SMA 20 (21.69) and SMA 50 (22.52). However, it remains above the SMA 200 (17.07), suggesting that the long-term trend remains bullish despite recent weakness. The Average True Range (ATR) of 0.79 indicates moderate volatility, which may present opportunities for traders seeking to capitalize on price fluctuations.

Fundamentally, the ETP has attracted significant investor interest, with assets under management (AUM) reaching 302.06 million EUR. This reflects the growing demand for Bitcoin exposure through traditional investment vehicles. The ETPs structure allows for institutional and retail investors to access Bitcoin in a regulated and familiar investment format, which has contributed to its popularity in Europe.

Looking ahead, the next three months are likely to be influenced by broader market sentiment toward Bitcoin and the adoption of digital assets. Based on the technical setup, if the ETP fails to reclaim its SMA 20 and SMA 50, it may face further downside pressure, potentially testing the SMA 200 support level. Conversely, if it breaks above the SMA 50, it could signal a resumption of the uptrend. Fundamentally, continued growth in AUM would likely support the ETPs liquidity and trading efficiency.