ETF Evaluator: 21Shares FTSE Crypto 10 Index ETF () Follow This ETF

21Shares FTSE Crypto 10 Index ETF Overview

21Shares FTSE Crypto 10 Index ETF (TTOP) is a passively managed Miscellaneous Digital Assets exchange-traded fund (ETF). 21Shares US LLC launched the ETF in 2025.

The investment seeks to track, before fees and expenses, the price performance of the FTSE Crypto 10 Select Index (the “Index”). The index measures the performance of the top ten largest crypto assets globally, ranked by their market capitalization (collectively, the “Underlying Crypto Assets”). The fund invests, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in investments that provide exposure to underlying crypto assets or have economic characteristics that are substantially similar to underlying crypto assets. The fund is non-diversified.

About 21Shares FTSE Crypto 10 Index ETF (TTOP)

There are 5 members of the management team with an average tenure of 0.72 years: Springer Harris (2025), Andres Valencia (2025), Joran Haugens (2025), Jad Ali (2025) and Chris Small (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 1 primary benchmark: FTSE Crypto 10 Select TR USD index with a weighting of 100%. 21Shares FTSE Crypto 10 Index ETF has 13 securities in its portfolio. The top 10 holdings constitute 51.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

21Shares FTSE Crypto 10 Index ETF is part of the Other global asset class and is within the Miscellaneous ETF group. 21Shares FTSE Crypto 10 Index ETF has 0.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.1% (0.0% domestic bond, 0.1% foreign bond and 0.0% convertible bond). 21Shares FTSE Crypto 10 Index ETF has 0.2% of the portfolio in cash.

Assets Under Management

The fund has $590 million in total assets, which is below the $564 million average for the Digital Assets category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

TTOP Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The 21Shares FTSE Crypto 10 Index ETF expense ratio is high compared to funds in the Digital Assets category. 21Shares FTSE Crypto 10 Index ETF has an expense ratio of 1.57%, which is 62% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. 21Shares FTSE Crypto 10 Index ETF has a portfolio turnover rate of 11%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 82% for the Digital Assets category.

Recently, in the month of July 2026, 21Shares FTSE Crypto 10 Index ETF returned 7.5%, which earned it a grade of B, as the Digital Assets category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

21Shares FTSE Crypto 10 Index ETF has a trailing yield of 0.00%, which is below the 15.12% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

21Shares FTSE Crypto 10 Index ETF Grades

Year to date, the ETF has returned -31.1%, 0.4 percentage points worse than the category, which translates into a grade of C.

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