21Shares has launched the 21Shares Active Crypto ETF (NASDAQ:TKNS), marking the firm's first actively managed cryptocurrency ETF in the U.S. The fund began trading on Thursday and is part of a broader shift in the crypto ETF market from passive, single-token strategies toward actively managed digital asset portfolios.
TKNS Unlike passive Bitcoin ETFs that simply track a single token, the strategy dynamically adjusts allocations based on market conditions, valuation signals, derivatives positioning, and blockchain-native indicators.
Key Features of TKNS
- Active portfolio management designed to shift between defensive and growth positioning depending on crypto market cycles.
- Diversified exposure across multiple digital assets rather than concentrating solely on Bitcoin.
- Uses quantitative signals, valuation analysis, and proprietary research to identify emerging opportunities.
- Incorporates systematic risk-management frameworks aimed at responding to market volatility and drawdowns.
- Structured as a 1940 Act ETF for easier accessibility through traditional brokerage platforms.
- Seeks total return by investing at least 80% of its net assets in crypto assets or crypto-related investments.
- Carries a gross expense ratio of 1.05%.
According to Andres Valencia, EVP, Investment Management at 21shares, the ETF is designed for investors seeking professional crypto portfolio management with a focus on balancing downside protection and upside participation as institutional adoption of digital assets accelerates.
The launch comes as competition intensifies among crypto ETF issuers looking to expand beyond spot Bitcoin products into more sophisticated strategies tied to market timing, portfolio rotation, and broader blockchain ecosystem exposure. Just a day ago, GraniteShares launched GraniteShares Autocallable MSTR ETF (NASDAQ:MSR) and GraniteShares Autocallable COIN ETF (NASDAQ:ATC), offering a new way to trade volatility in crypto-linked equities through structured income strategies.
Actively managed crypto ETFs are becoming an increasingly important category as performance dispersion across digital assets widens and investors seek differentiated exposure beyond the largest cryptocurrencies.
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