{"id":174400,"date":"2025-11-14T14:00:00","date_gmt":"2025-11-14T14:00:00","guid":{"rendered":"https:\/\/cryptonews.com\/fr\/?p=174400"},"modified":"2025-11-14T13:31:45","modified_gmt":"2025-11-14T13:31:45","slug":"21shares-deux-etf-crypto-usa","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/fr\/news\/21shares-deux-etf-crypto-usa\/","title":{"rendered":"21Shares lance deux ETF index crypto aux \u00c9tats-Unis : TTOP et TXBC sous le \u201840 Act"},"content":{"rendered":"<p class=\"wp-block-paragraph\">21Shares d\u00e9barque aux \u00c9tats-Unis avec deux ETF index adoss\u00e9s \u00e0 des indices FTSE Russell : TTOP (FTSE Crypto 10 Select) et TXBC (FTSE Crypto 10 ex-Bitcoin). Particularit\u00e9 majeure, ces fonds sont enregistr\u00e9s sous le Investment Company Act of 1940. C\u2019est une premi\u00e8re pour des ETF crypto multi-actifs aux USA. Les frais indicatifs sont de 0,50 % (TTOP) et 0,65 % (TXBC).<\/p><h2 class=\"wp-block-heading\"><strong>Produits et indices : exposition large, m\u00e9thodo simple<\/strong><\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">TTOP suit le <strong>FTSE Crypto 10 Select Index<\/strong>, un <strong>panier pond\u00e9r\u00e9 par la capitalisation<\/strong> avec rebalancement trimestriel. Il agr\u00e8ge les dix plus grands actifs num\u00e9riques, dont le <a href=\"https:\/\/www.coingecko.com\/fr\/coins\/bitcoin\" target=\"_blank\" rel=\"noreferrer noopener\">bitcoin<\/a>, ETH, SOL ou DOGE selon leur poids du moment.<\/p><p class=\"wp-block-paragraph\">L\u2019objectif est clair : offrir, en un seul trade, <strong>l\u2019ossature du march\u00e9 crypto liquide<\/strong>. TXBC r\u00e9plique le FTSE Crypto 10 ex-Bitcoin Select. M\u00eame logique de construction, sans le bitcoin pour les investisseurs qui souhaitent une exposition hors BTC.<\/p><p class=\"wp-block-paragraph\">Sur le plan op\u00e9rationnel, les documents de 21Shares pr\u00e9cisent la cote sur <strong>NYSE Arca<\/strong>, le recours \u00e0 FTSE Russell comme fournisseur d\u2019indice, et un partenariat avec Teucrium pour la distribution. Les textes d\u00e9taillent aussi le cadre d\u2019investissement : au moins <strong>80 % d\u2019exposition \u00e9conomique<\/strong> aux actifs sous-jacents (directe ou via instruments indiciels), avec un suivi \u00ab avant frais et d\u00e9penses \u00bb de l\u2019indice. Dit autrement, la promesse est celle d\u2019un <a href=\"https:\/\/farside.co.uk\/btc\/\">ETF classique<\/a> : r\u00e9plication d\u2019un panier connu, r\u00e8gles transparentes, et m\u00e9canismes de cr\u00e9ation\/rachat pour garder le prix au plus pr\u00e8s du NAV.<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Bypass the headache, frontrun the future.<br><br>Forget having to navigate multiple wallets, coins, chains, and bridges- we\u2019ve just launched our first index crypto funds in the U.S.<br><br>There&#39;s now a simpler way to get diversified exposure to crypto in your brokerage account:<br><br>&#8211; <a href=\"https:\/\/twitter.com\/search?q=%24TTOP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TTOP<\/a>:\u2026 <a href=\"https:\/\/t.co\/epEzG0Rasx\">pic.twitter.com\/epEzG0Rasx<\/a><\/p>&mdash; 21shares US (@21shares_us) <a href=\"https:\/\/twitter.com\/21shares_us\/status\/1988983047920685249?ref_src=twsrc%5Etfw\">November 13, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><h2 class=\"wp-block-heading\"><strong>Pourquoi le \u201840 Act change la donne<\/strong><\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">Jusqu\u2019ici, la plupart des produits crypto am\u00e9ricains vivaient <strong>sous le Securities Act de 1933<\/strong> (produits mono-actif au comptant). Le \u201840 Act impose des garde-fous propres aux fonds US traditionnels : diversification, exigences accrues de garde, disclosure robuste et gouvernance encadr\u00e9e.<\/p><p class=\"wp-block-paragraph\">Ces standards rassurent les conseillers financiers, les RIA et, plus largement, les allocataires professionnels. En pratique, cela peut <strong>\u00e9largir la distribution au-del\u00e0 des investisseurs<\/strong> crypto-native et installer ces fonds dans des portefeuilles conseill\u00e9s. C\u2019est donc un positionnement \u00ab mainstream \u00bb, port\u00e9 par des frais contenus et un langage familier pour la gestion d\u2019actifs.<\/p><p class=\"wp-block-paragraph\">Par ailleurs, l\u2019arriv\u00e9e de deux <a href=\"https:\/\/cryptonews.com\/fr\/news\/etf-memecoin-tiktok-canary-capital-depose-dossier-etf-mog\/\">paniers diversifi\u00e9s<\/a> r\u00e9pond \u00e0 une <strong>critique r\u00e9currente des produits mono-token<\/strong> : le risque idiosyncratique. Un indice top 10 lisse les \u00e0-coups de chaque composante et capte la rotation sectorielle sans arbitrages permanents.<\/p><p class=\"wp-block-paragraph\">Le pendant existe : en p\u00e9riode de march\u00e9 heurt\u00e9, l\u2019\u00e9cart prix\/NAV peut <strong>se creuser<\/strong> si la liquidit\u00e9 spot se tend. Le r\u00f4le des participants autoris\u00e9s et du market making sera donc crucial, surtout lors des rebalancements trimestriels. C\u2019est le prix de la simplicit\u00e9 : un panier clair, mais des coulisses techniques qui doivent tenir la charge.<\/p><h2 class=\"wp-block-heading\"><strong>\u00c0 qui parlent ces ETF, et que surveiller maintenant<\/strong><\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">La cible est nette. Des conseillers qui veulent <strong>une brique core crypto <\/strong>sans choisir des noms un par un. Des multi-family offices qui pr\u00e9f\u00e8rent un cadre fonds \u00e9prouv\u00e9. Et des investisseurs qui cherchent un compl\u00e9ment \u00e0 des expositions existantes (BTC\/ETH) via TXBC ou un socle plus large via TTOP.<\/p><p class=\"wp-block-paragraph\">Dans les premi\u00e8res semaines, <strong>trois rep\u00e8res feront foi<\/strong>. D\u2019abord, les volumes d\u2019ouverture et la stabilit\u00e9 des spreads. Ensuite, la r\u00e9gularit\u00e9 des cr\u00e9ations\/rachats. Enfin, la qualit\u00e9 du suivi d\u2019indice lors des rebalancements, avec une attention aux actifs \u00e0 profondeur limit\u00e9e. Si ces voyants sont au vert, l\u2019adoption peut s\u2019installer au-del\u00e0 du buzz du lancement.<\/p><p class=\"wp-block-paragraph\">Reste la photographie d\u2019ensemble. L\u2019annonce intervient dans un march\u00e9 chahut\u00e9, mais toujours en qu\u00eate de canaux r\u00e9gul\u00e9s. Le timing compte : <a href=\"https:\/\/cryptonews.com\/fr\/news\/hyperliquid-21shares-etf-hype\/\">21Shares<\/a> arrive avec <strong>deux produits lisibles<\/strong>, une marque d\u00e9j\u00e0 connue en Europe, et une cha\u00eene documentaire compl\u00e8te (prospectus, SAI, fiches produits). Ce n\u2019est pas une garantie de succ\u00e8s, c\u2019est un pr\u00e9-requis pour entrer dans les grilles d\u2019allocation.<\/p><p class=\"wp-block-paragraph\">Les prochains mois diront si TTOP et TXBC deviennent des piliers de l\u2019exposition crypto conseill\u00e9e, ou s\u2019ils restent des satellites dans des portefeuilles prudents. Dans l\u2019intervalle, la balle est dans le camp des distributeurs\u2026 et des march\u00e9s.<\/p><hr class=\"wp-block-separator has-alpha-channel-opacity\"><p class=\"wp-block-paragraph\">Pour aller plus loin sur le sujet : <\/p><ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/debut-etf-xrp-volume-flux-resultats-premier-jour\/\">D\u00e9but des ETF XRP : volume, flux et r\u00e9sultats du premier jour<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/etf-memecoin-tiktok-canary-capital-depose-dossier-etf-mog\/\">Un ETF sur un memecoin TikTok ? Canary Capital d\u00e9pose un dossier pour un ETF MOG<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cryptonews.com\/fr\/news\/xrpc-attire-26-millions-en-30-minutes-nasdaq\/\">XRPC attire 26 millions $ en 30 minutes sur le Nasdaq<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>21Shares d\u00e9barque aux \u00c9tats-Unis avec deux ETF index adoss\u00e9s \u00e0 des indices FTSE Russell : TTOP (FTSE Crypto 10 Select) et TXBC (FTSE Crypto 10 ex-Bitcoin). Particularit\u00e9 majeure, ces fonds sont enregistr\u00e9s sous le Investment Company Act of 1940. C\u2019est une premi\u00e8re pour des ETF crypto multi-actifs aux USA. Les frais indicatifs sont de 0,50 [&hellip;]<\/p>\n","protected":false},"author":697,"featured_media":174402,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[42,1],"tags":[],"editors":[2551],"sponsored_companies":[],"class_list":["post-174400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-news","editors-julien-leroy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>21Shares lance deux ETF crypto index aux \u00c9tats-Unis<\/title>\n<meta name=\"description\" content=\"21Shares d\u00e9barque aux \u00c9tats-Unis avec deux ETF index adoss\u00e9s \u00e0 des indices FTSE Russell : TTOP (FTSE Crypto 10 Select) et TXBC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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