21shares launches first actively managed crypto ETF in the US

21shares announced the launch of the 21shares Active Crypto ETF (NASDAQ: TKNS), marking the company's first actively managed cryptocurrency exchange-traded fund in the United States. The ETF began trading May 14, 2026.

TKNS invests at least 80% of its net assets in crypto assets or crypto asset-related investments under normal circumstances. The fund charges a gross expense ratio of 1.05% and trades in U.S. dollars on NASDAQ.

The ETF differs from passive crypto ETFs by dynamically adjusting portfolio exposures based on market conditions, valuation metrics and proprietary research. The strategy incorporates market regime analysis, derivatives positioning data and blockchain-native indicators to modify exposures.

"Crypto markets move fast and often unpredictably," said Andres Valencia, EVP, Investment Management at 21shares. "With TKNS, we are bringing a disciplined, systematic approach to navigating those cycles."

The fund combines Bitcoin as a core portfolio component with research-driven allocation across diversified digital assets. TKNS aims to shift between defensive and growth positioning depending on market conditions and incorporates portfolio adjustments intended to respond to market declines.

Teucrium Investment Advisors LLC serves as the investment adviser while 21Shares US LLC acts as subadviser. PINE Distributors LLC distributes the fund.

21shares describes itself as one of the world's leading cryptocurrency exchange-traded product providers. The company listed what it claims was the world's first physically-backed crypto ETP in 2018. 21shares is a subsidiary of digital asset prime broker FalconX.

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