21Shares has launched two new physically backed ETPs (Exchange Traded Products) in 2025:
The Morpho ETP and the Ethena ETP. This marks 21Shares' 16th new ETP introduction for the year, indicating a growing investor interest in regulated and accessible ways to engage with innovative blockchain protocols.
These ETPs offer a simple way for investors to participate in on-chain lending markets and stablecoin governance without needing to directly manage tokens or smart contracts.
Morpho ETP: This ETP provides exposure to $MORPHO , a Lending-as-a-Service protocol. Morpho enables custom, risk-isolated lending markets on blockchain networks, allowing lenders and borrowers to interact on decentralized platforms while keeping individual markets separate. By late 2025, $MORPHO had over nine billion dollars in deposits and more than four billion dollars in active loans, demonstrating the increasing adoption of decentralized lending. Investors in the MORPH ETP gain regulated, exchange-traded exposure to this sector through traditional brokerage accounts.
Ethena ETP: This ETP offers exposure to Ethena's governance token, ENA. Ethena powers USDe, a digital-dollar stablecoin that has become a major stablecoin platform. Token holders can participate in governance, influencing decisions about protocol upgrades and risk management.#Morpho #ETP #21Shares #stablecoin
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