21shares Launches Flexible Crypto Index ETP (FLEX) in Partnership with A&G Banco, Delivering Smart, Volatility-Managed Access to Digital Assets

Core Viewpoint - 21shares, in collaboration with A&G Banco, has launched the 21shares Flexible Crypto Index ETP (FLEX), aimed at providing diversified and risk-adjusted exposure to leading digital assets through a single ETP [1]. Product Overview - FLEX is designed to offer structured exposure to the most liquid and established cryptocurrencies while minimizing concentration risk and adapting to market conditions [3]. - The ETP tracks the 21Shares Flexible Crypto Index, developed with MarketVector Indexes™, which selects cryptoassets based on size, liquidity, and regulatory criteria [4]. - A&G Banco's proprietary model determines portfolio allocation using a minimum-variance framework and positive momentum signals, optimizing the risk-return profile of the crypto ecosystem [4]. Risk Management Features - FLEX includes a built-in risk management framework that allows for up to 30% of the portfolio to be allocated to cash via USDC, enhancing defensive positioning during market volatility [5]. - This tactical cash allocation enables the strategy to remain agile and capture growth opportunities when market conditions stabilize [5]. Strategic Collaboration - The launch of FLEX combines 21shares' expertise in crypto ETP infrastructure with A&G Banco's quantitative investment knowledge, targeting regulated advisory frameworks in private banking and wealth management across Europe [5][6]. - The product is fully physically backed and supported by 21shares' institutional-grade custody infrastructure, marking a significant advancement in the professionalization of crypto investing in Europe [7]. Market Demand - There is a growing demand from investors for diversified, systematic crypto exposure that aligns with institutional risk standards, which FLEX aims to address [6]. - The allocation model of FLEX reflects how professional investors manage risk in volatile markets, combining minimum-variance construction, momentum signals, and a dynamic cash component [7]. Company Background - 21shares AG is a leading provider of cryptocurrency ETPs, with a mission to bridge traditional finance and decentralized finance, having launched the first physically-backed crypto ETP in 2018 [10]. - A&G Banco, founded in 1987, is a prominent independent financial services group managing over 17 billion euros as of December 2025, with a strong track record in wealth advisory and asset management [11].