Switzerland crypto ETP issuer exceeds $1B of AUM

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Swiss crypto ETP issuer 21Shares raised its managed crypto assets from $500 million to $1 billion in less than two weeks.

21Shares, a Swiss-based provider of cryptocurrency exchange-traded products or ETPs, has posted a 100% rise in assets under management over the last two weeks.

The company revealed on Monday that it has reached the $1 billion mark on assets under management through its diversified 12 crypto-asset ETPs. 21Shares CEO Hany Rashwan said that the company has recently seen a meteoric rise in its crypto ETP goods, doubling its AUM in less than two weeks. The company had previously announced that 21Shares had sold AUM $500 million on Feb. 8.

According to the announcement, the huge surge in 21Shares’ crypto ETP sector is mainly due to the rapid adoption of crypto by institutional investors and the availability of products to controlled European exchanges.

Rashwan argued that institutional investors are able to invest in 21Shares’ crypto ETPs by using the International Securities Identification Number or ISIN, which is the global standard used to classify individual securities such as bonds, stocks, derivatives and others:

“With such institutional demand wanting to gain exposure to crypto via an ISIN, it took us less than two weeks from announcing $500 million in AUM to now exceeding $1 billion. It is rapidly becoming judicious for many wealth managers, private banks, family offices and individuals to allocate to crypto assets.”

According to the product breakdown chart in the announcement, the largest part of 21Shares’ total AUM came from 21Shares Binance BNB ETP (ABNB)—an ETP monitoring the investment performance of Binance Coin (BNB). BNB’s commanding share of the overall AUM comes in the wake of Binance Coin’s latest rise, which saw it becoming the world’s third-largest cryptocurrency on Friday.

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Source: 21Shares

As of Thursday, ABNB was apparently still behind 21Shares’ Bitcoin ETP, or ABTC, with AUM worth about $214 million, while ABTC AUM stood at $272 million, according to official 21Shares website records.

Formerly branded as Amun AG, 21Shares is known for launching the world’s first multi-crypto ETP product listing on SIX Swiss Exchange in November 2018. In just over two years after the launch of its first ETP crypto, 21Shares has been successfully diversifying its ETP crypto offering, experiencing a two-hundred-fold rise in AUM. 21Shares released the world’s first ETP based on Polkadot’s DOT in early February.

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