21shares logo

Terms of Use

Terms & Conditions

Please read these Terms of Use (“Terms of Use”) carefully. 21Shares US LLC, a registered investment adviser (“21Shares”), owns and operates the investment advisory portions of this website, https://21shares.com/en-us (“Site”). By registering for, logging into, visiting, and/or otherwise using the Site in any way, you indicate that you understand and intend these Terms of Use to be the legal equivalent of a signed, written contract, and you accept these Terms of Use and agree to be legally bound by them. If you do not agree to these Terms of Use, please do not access this Site or any pages thereof.

Reservation of Rights

We reserve the right, at our discretion, to change, modify, add, or remove portions of these Terms of Use at any time. Your continued use of the Site following reasonable notice of such modifications will be conclusively deemed acceptance of any changes to these Terms of Use. You agree that notice of changes to these Terms of Use posted on the Site constitutes reasonable and sufficient notice. At all times, you are bound by the then-current version of the Terms of Use and by all applicable laws.

Use of Content

The Content (as defined below) of this Site is available for informational purposes only. The posting of Content and access to this Site does not constitute, either explicitly or implicitly, any provision of services or products by 21Shares.

Copyright and Trademarks

This Site (including the software and files), the computers hosting this Site, and content provided on this Site, including any text, music and sound, graphics, images, photographs, audio and video, footage, animations, podcasts, analyses, studies, reports, and downloads (all such content collectively, the “Content”) are the exclusive property of 21Shares, are licensed to 21Shares, or are publicly copyrighted, and are protected by law, including copyright, database, trade secret, and trademark law, as well as other state, national, and international laws and regulations. 21Shares reserves all rights with respect to its proprietary information or material on this Site and will enforce such rights to the full extent of applicable copyright and trademark law. Except as expressly provided in these Terms of Use, 21Shares does not grant any express or implied rights to you. All rights in the pages and Content are owned by 21Shares and their respective licensors. You agree not to sell, distribute, publish, broadcast, circulate, or commercially exploit Content in any manner without the express written consent of 21Shares. Any downloading or otherwise copying from this Site will not transfer title to any software or material to you. Unless otherwise noted, 21Shares and other brands featured on the Site constitute our trade/service marks. You agree not to, directly or indirectly, attempt to register, challenge, or contest the validity of 21Shares’ ownership of such copyrights, trademarks, or any other intellectual property of 21Shares, or assist any third party in doing so.

Grant of License

21Shares grants you a personal, revocable, nonexclusive, nontransferable license to use this Site conditioned on your continued compliance with these Terms of Use. Limited portions of the Content available in the public areas of the Site may be accessed, printed, and downloaded on an occasional basis for personal, scholarly, research, or non-commercial purposes; provided that all hard copies contain all copyright and other applicable proprietary rights notices included in such content and information and/or appropriate attribution to 21Shares in a form and manner acceptable to 21Shares. For information on obtaining permission to use any Content beyond the uses permitted above, please contact 21Shares at [email protected]. Unless and except as otherwise expressly permitted by these Terms of Use, you may not access, copy, reproduce, modify, create derivative works of, alter, publicly distribute, republish, upload, post, transmit, publicly perform or display, license, transfer, sell, mirror, frame, “deep link,” “scrape,” data mine, or otherwise use any information or material obtained from or through this Site, without written permission from 21Shares. Any unauthorized use of this Site or the Content, or any violation of applicable laws, will terminate the permission granted herein.

No Offer or Investment Advice

Nothing contained herein constitutes an offer, solicitation, or recommendation regarding any investment management product or service, or the offer to sell or the solicitation of an offer to buy any security; nor shall any such services be provided, or securities be offered or sold, in any jurisdiction in which such an offer, solicitation, provision or sale would be unlawful. All Site Content is subject to applicable statutes and regulations.

The information provided is for informational purposes only. It does not constitute any form of advice or recommendation to buy or sell any securities or adopt any investment strategy mentioned. It is intended only to provide observations and views of the author(s) at the time of writing, both of which are subject to change at any time without prior notice. The information provided does not have regard to the specific investment objectives, financial situation, or particular needs of any specific person who may read it, and investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation. Please refer to offering documents for further information concerning specific products.

Any reference to a particular company or security is not an endorsement by 21Shares of that company or security or a recommendation by 21Shares to purchase or sell such security. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of prior securities’ recommendations.

This Site is published in the U.S for residents of the U.S. Investors outside of the U.S. are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this Site. Any potential investor should satisfy themselves that an investment in a 21Shares product is permissible under the rules and regulations of their domicile. The Site is not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence, or otherwise) the publication or availability of the Site is prohibited. Persons in respect of whom such prohibitions apply must not access the Site.

Forward Looking Statements

Certain of the statements contained herein may be statements of future expectations, opinions, and other forward-looking statements that are based on 21Shares’ current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue” and similar expressions identify forward-looking statements.

The matters discussed herein may also involve risks and uncertainties described from time to time in 21Shares’ filings with the U.S. Securities and Exchange Commission (SEC). The company assumes no obligation to update any forward-looking information contained herein.

Conflicts of Interest

As a thematic investor with an open research ecosystem, 21Shares and its related persons use online activity as part of its investment research process. As a result, 21Shares and clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that we discuss. However, any discussion of securities or issuers by 21Shares is not a recommendation to buy, sell, or hold any particular security.


Past performance is no guarantee of future results. All investments have risks and can lose value, including their entire value. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. The value of investments, and the income from them, can go down as well as up, and you may not recover the amount of your original investment. Please consult the offering documents of the product or service for additional information on investment risks. Any tax benefits referred to on this Site are subject to change, and their availability and value will depend on your individual circumstance. Such investments are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured or guaranteed by the U.S. government, SEC, or any other agency. Some 21Shares products may not be available in or appropriate for a retirement savings plan. Please contact your financial adviser about any investment restrictions associated with your particular plan.

No Reliance

Although 21Shares has taken reasonable care to ensure that the information contained within this Site is accurate, no representation or warranty (including liability towards third parties), expressed or implied, is made as to its accuracy, reliability, or completeness by 21Shares or their contractual partners. Opinions and any other Content are provided by 21Shares for personal use and informational purposes only and are subject to change without notice. Nothing contained on this Site constitutes investment, legal, tax, or other advice and is not to be relied on in making an investment or other decision.

Limitation of Liability and Disclaimer of Warranties

The following provisions in this section (Section 9) apply to the fullest extent permitted by law:

21Shares, any 21Shares product, and their respective affiliates, officers, directors, employees, agents, suppliers, and licensors (collectively, "21Shares Parties") make no warranties or representations regarding the Service and any content available on the Service. This includes, but is not limited to, the accuracy, reliability, completeness, timeliness, or reliability thereof. 21Shares Parties will not be held liable for the truth, accuracy, or completeness of any content or other information provided to any user. They are not responsible for errors, mistakes, omissions, or any delays or interruptions in the data or information stream, regardless of the cause. To the fullest extent permitted by law, as a user, you agree to use the Service and any content at your own risk.

21Shares Parties do not guarantee that the Service will operate error-free or that it and any content are free from computer viruses or similar contamination or destructive features. If your use of the Service or any content necessitates servicing or replacing equipment or data, no 21Shares Party will be responsible for those costs.

The Service and all content are provided on an "as is" and "as available" basis, without any warranties of any kind. To the fullest extent permitted by law, 21Shares Parties disclaim all warranties, including, but not limited to, warranties of title, merchantability, non-infringement of third-party rights, and fitness for a particular purpose.

In no event will any 21Shares Party be liable for any special, indirect, punitive, incidental, or consequential damages, lost profits, or damages resulting from lost data or business interruption arising from or in connection with the use or inability to use the Service and any content. This applies whether based on warranty, contract, tort (including negligence), or any other legal theory, even if such 21Shares Party has been advised of the possibility of such damages. 21Shares' liability, and the liability of any other 21Shares Parties, to you or any third parties under any circumstance is limited to $100.


You hereby indemnify, defend, and hold 21Shares and any of their respective affiliates, directors, officers, registered representatives, or employees, and any third-party vendor harmless from and against any and all liabilities, judgments, fines, damages, settlements, and costs (including reasonable attorneys’ fees and disbursements) incurred in connection with any claim arising out of any breach by you of these Terms of Use or claims arising from your use of this Site. You will cooperate with us in the defense of any claim. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you.

Events Beyond 21Shares’ Control

You expressly absolve and release 21Shares and all of its officers, directors, employees, registered representatives, shareholders, legal representatives, attorneys, agents, successors, and assigns from any claim of harm resulting from a cause beyond its control, including, but not limited to, the failure of electronic or mechanical equipment or communication lines, telephone or other interconnect problems, computer viruses, or software failures, unauthorized access, theft, operator errors, severe weather, earthquakes, or natural disasters, strikes or other labor problems, wars, acts of domestic or foreign terrorism, or governmental restrictions. 21Shares does not warrant that this Site will be available at any time or that your access to this Site will be uninterrupted, timely, or free from viruses or other harmful components. 21Shares reserves the right to cease operating this website or to terminate your access and use of any part of this Site at any time without notice and for any reason.

User Representations

You represent and warrant to 21Shares that you will not use this Site for any purpose that is unlawful or prohibited by these Terms of Use, including but not limited to attempting or actually: (a) disrupting, impairing, or otherwise interfering with the operation or integrity of the Site or circumventing any Site security system; (b) collecting any information about other users of the Site; (c) systematically, or by any automated means, extracting Content or other information or data contained in the Site to populate databases or other sites; or (d) engaging in any fraudulent or manipulative activity with respect to issuers, securities, or markets. 21Shares may terminate your access and use of any part of the Site for such violations.

You further agree not to: (a) make any representations, warranties, or guarantees on 21Shares’ behalf or with respect to the Site, Content, or data; (b) make any false or misleading representations with regard to 21Shares, the Site, Content, or data; or (c) participate or engage in any illegal, deceptive, misleading, unethical, or improper practices.

Linked Sites

Certain hyperlinks or referenced websites on the Site may, for your convenience, forward you to third parties’ websites, which generally are recognized by their top-level domain name. Any descriptions of, references to, or links to other products, publications, or services do not constitute an endorsement, authorization, sponsorship by, or affiliation with 21Shares with respect to any linked site or its sponsor, unless expressly stated by 21Shares. Any such information, products, or sites have not necessarily been reviewed by 21Shares and are provided or maintained by third parties over whom 21Shares exercises no control. 21Shares expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites to the extent permitted by applicable law. 21Shares reserves the right to terminate any hyperlink or hyperlinking program at any time.

Information Submitted by You

21Shares' usage of your personal information is governed by our Privacy Policy, which is an integral part of these Terms of Use. Please refrain from sharing any confidential or proprietary information through our website. By providing any information or materials to us via the website, you grant us an unrestricted, irrevocable, worldwide, royalty-free, non-exclusive license to use, reproduce, display, perform, modify, transmit, and distribute such materials or information. Additionally, you consent to 21Shares' free utilization, for any purpose, of any ideas, concepts, know-how, or techniques submitted to us through the website. 21Shares is not bound by any obligations of confidentiality regarding the information you submit, unless otherwise agreed upon by 21Shares or required by law.

Please refrain from using this website to upload, display, or distribute materials that are defamatory, threatening, obscene, harassing, or otherwise unlawful, or that incorporate copyrighted, confidential, or proprietary materials of others. When interacting with 21Shares on social media platforms, be aware that the handling, storage, and disclosure of your information on those platforms are governed by the respective third-party platforms.

Jurisdiction, Severability

Any dispute arising from these Terms of Use or the website will be litigated exclusively in the courts located in New York, and you consent to their exclusive jurisdiction, considering them a convenient forum for your legal matters.

In the event that any provision of these terms is deemed unenforceable, the validity or enforceability of the remaining provisions will remain unaffected, and the unenforceable provision will be replaced with an enforceable provision that aligns with the original intent.

Social Media Disclosure

21Shares and individuals posting on behalf of 21Shares may be clients or investors in 21Shares' products or services, which may influence their positive portrayal of the firm.

You have the option to engage with us on social media, including platforms linked from our website. 21Shares' social media accounts reflect the opinions of the firm as a whole, and certain team members of 21Shares maintain social media accounts representing their individual opinions. Please note that social media posts may not necessarily represent the opinions of 21Shares in its entirety or all team members. It is important to remember that 21Shares and affiliated individuals may have investments in the clients and securities under discussion, which could incentivize them to speak favorably of these clients and securities. As thematic investors with an open research ecosystem, 21Shares and affiliated persons, including individuals like Ms. Wood, employ social media conversations as part of their investment research process. Consequently, 21Shares, clients, and related individuals may have financial interests in the discussed clients, securities, or issuers (although it is not guaranteed). However, discussions on these subjects by 21Shares in social media conversations should not be construed as recommendations to buy, sell, or hold any particular security. Future recommendations should not be assumed to be profitable or equivalent to the performance of previous recommendations.

You may also come across and interact with content posted by third parties on 21Shares' social media pages. If these comments are positive or reflect someone's experience with the firm or its personnel, please be aware that the third party may not receive compensation for the post. However, certain third parties, such as placement agents or distributors for private funds, might be incentivized to post due to their compensation for distribution services. Any third party with a business relationship with 21Shares could be motivated to post positively to maintain that relationship and any associated compensation.

21Shares collects and receives information from you when you interact with our social media pages, accounts, or through posts on social media platforms. If you choose to make your activities or other content available through such platforms, including on our pages, or engage in other platform-related activities, your friends and followers, as well as potentially the general public, may have access to view those contributions and activities that you've enabled.