Altcoins RAY, FET About to Takeoff? 21Shares Brings 2 New ETPs

21Shares, one of the world’s largest issuers of crypto exchange-traded products (ETPs), has announced the launch of two new offerings in Europe, bringing its total listed products to 50.

The additions, focused on artificial intelligence (AI) and DeFi, could spark renewed interest in tokens like Fetch.ai FET $0.63 24h volatility: 2.1% Market cap: $1.66 B Vol. 24h: $64.09 M and Raydium RAY $3.23 24h volatility: 0.0% Market cap: $868.45 M Vol. 24h: $68.78 M , both of which remain well below their all-time highs but are seeing increasing trading activity.

21Shares Expands With AFET and ARAY

The new products include the 21Shares Artificial Superintelligence Alliance ETP (AFET) and the 21Shares Raydium ETP (ARAY).

AFET, now listed on Euronext Amsterdam and Paris, tracks a first-of-its-kind decentralized AI ecosystem created by the merger of Fetch.ai, SingularityNET AGIX $0.27 24h volatility: 2.0% Market cap: $79.46 M Vol. 24h: $26.36 K , Ocean Protocol OCEAN $0.28 24h volatility: 0.2% Market cap: $55.50 M Vol. 24h: $88.17 K , and CUDOS.

Meanwhile, ARAY, listed on the SIX Swiss Exchange, offers investors exposure to Raydium, Solana’s SOL $234.9 24h volatility: 0.1% Market cap: $127.64 B Vol. 24h: $8.13 B flagship decentralized exchange.

Known for its deep liquidity and multi-stream revenue models, Raydium is also playing an important role in the tokenization of real-world assets.

According to 21Shares, ARAY currently manages around $1.29 million in assets, while AFET has $100,000 AUM.

Hitting Major Milestones

These launches mark a milestone for 21Shares, which now oversees $11 billion in global assets under management.

Since issuing the world’s first token-backed crypto ETP in 2018, the firm has built the broadest lineup of physically backed crypto ETPs in Europe, though overall volumes still lag far behind US spot Bitcoin and Ether ETFs.

FET and RAY Prices Under Pressure

Despite the attention, the tokens behind these new ETPs have struggled to break out of their current ranges.

FET trades at $0.6315, down more than 2% in the past 24 hours. Although trading volume is up over 6%, the token has yet to push past the daily high of $0.6494 and remains nearly 80% below its all-time high of $3.47.

RAY is trading at $3.20, down almost 5% over the past week. However, trading activity has jumped sharply, with a 23% surge in volume in the last 24 hours.

Like FET, RAY is still trading more than 80% below its peak of $16.93, but rising exchange activity hints at growing accumulation, potentially making them the next crypto to explode in 2025.

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