21Shares is making big moves again.

This time, they’ve packaged two DeFi protocols into ETP products and listed them on major European exchanges. One is the Ethena ENA token product (ticker EENA), and the other is the MORPH token product from the Morpho lending protocol.

Where are they listed? You can trade them on the SIX Swiss Exchange, Euronext Amsterdam, and in Paris. Both USD and EUR denominations are supported, with a unified management fee of 2.5%.

To put it simply—institutions that want exposure to these two DeFi projects but don’t want to deal with wallets and buying tokens themselves can now access them directly through traditional financial channels.

Mandy Chiu, Head of Product Development at 21Shares, said this is a continuation of their commitment to providing institutional-grade access to “the most innovative segments of digital finance.” It sounds pretty official, but their actions are definitely swift.

What’s noteworthy?

Ethena and Morpho are not just any random altcoin projects. One focuses on synthetic USD stablecoins, and the other on decentralized lending optimization. Both protocols have real application scenarios in DeFi.

Now that tokens from protocols like these can be accessed through compliant ETP channels, it shows that European regulators are becoming increasingly open to DeFi. The entry path for institutional capital is widening.

This move definitely has a different vibe.