TL;DR Breakdown:
- Leading crypto ETP issuer, 21Shares, has surpassed an AUM of $1 billion.
- This milestone is coming just a few weeks after the company reported $500 million in AUM.
The Switzerland-based leading cryptocurrency ETP (exchange-traded product) issuer, 21Shares, has reported exponential growth in assets under management (AUM). This might be another form of confirmation of the presence of deep-pocketed investors in the cryptocurrency market. According to the company, the growth of the AUM comes amid the growing interest in digital currencies since the past year.
Precisely on the 19th of November, 2020, the crypto ETP issuer reached $150 million in assets under management, which shows tremendous growth within a few months.
Per the announcement on Monday, the company said its assets under management have topped a total valuation of $1 billion after recording a 200-fold increase in its assets in just over two years. The $1 billion AUM comes from the company’s diversified 12 crypto ETPs, which includes Bitcoin, Ether, Binance Coin, Ripple, Polkadot, Bitcoin Cash, and others. Among other reasons, 21Shares attributed the growth in the AUM to institution adoption.
A glance at the AUM chart of 21Shares’ crypto ETPs shows that the Binance Coin ETP (ABNB) holds the largest share, followed by the Bitcoin product (ABTC). Other popular crypto ETPs per their dominance include the 21Shares HODL, Ether (AETH), and Tezos (AXTZ).
Institutional interest in crypto keeps soaring
While commenting on the new milestone, the CEO of 21Shares, Hany Rashwan, noted:
“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.”
The company topped the $500 million assets under management on the 8th of February, 2021.
