The Abu Dhabi Securities Exchange (ADX) Group has launched the region’s first initial offering period (IOP) for a US-based exchange-traded fund, marking a significant step in expanding investor access to global financial products.

The move was followed by the cross-listing of the KraneShares Wahed Alternative Income Index ETF (KWIN), the first US Shariah-compliant ETF to debut on ADX.

The offering, held from April 15 to 21, attracted subscriptions from investors representing more than 46 nationalities, reflecting strong international demand and reinforcing ADX’s growing role as a gateway for diversified investment opportunities.

The KWIN listing also marks the fourth ETF from the New York Stock Exchange to join ADX, bringing the exchange’s total ETF market capitalization to nearly AED27 billion ($7.35 billion) and increasing the number of listed ETFs to 23.

Developed by KraneShares in partnership with Wahed Invest, KWIN tracks the Wahed Shariah Alternative Income Index and uses an options-based strategy designed to generate income. As of March 2026, the index included 306 holdings, featuring global companies such as Amazon and Lululemon.

The launch represents ADX’s second ETF listing since the onset of recent geopolitical tensions in the region, following the KraneShares Artificial Intelligence & Technology ETF (AGIX). This highlights the exchange’s resilience and its ability to maintain investor confidence amid uncertain market conditions.

ADX’s ETF market has recorded strong growth, with trading value reaching $42.2 million in the first quarter of 2026, a 228% year-on-year increase. This expansion reflects broader exchange performance, where total trading value approached $24.5 billion, up 7.5%.

Institutional investors accounted for 78% of total trading activity, while foreign investors made up 47.5%, with transactions exceeding $23.1 billion, an annual increase of 22%. This underscores continued strong global participation in Abu Dhabi’s capital markets.