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Swiss crypto ETP issuer passes $1B belongings beneath administration

02/22/2021

Swiss crypto ETP issuer 21Shares has elevated its managed crypto ETP belongings from $500 million to $1 billion in lower than two weeks.

21Shares, a Switzerland-based supplier of cryptocurrency exchange-traded merchandise, or ETPs, has recorded a 100% progress in belongings beneath administration over the previous two weeks.

The corporate introduced Monday that 21Shares has handed the $1 billion mark in AUM throughout its diversified 12 crypto asset ETPs. 21Shares CEO Hany Rashwan mentioned that the corporate has seen a meteoric rise in its crypto ETP merchandise not too long ago, doubling AUM in lower than two weeks. The corporate beforehand introduced that 21Shares broke $500 million in AUM on Feb. 8.

In keeping with the announcement, the large surge in 21Shares’ crypto ETP enterprise is especially attributed to the speedy adoption of crypto by institutional buyers in addition to the merchandise’ availability on regulated European exchanges.

Rashwan mentioned that institutional buyers are capable of spend money on 21Shares’ crypto ETPs through the use of the Worldwide Securities Identification Quantity, or ISIN, which is a worldwide commonplace used to determine particular securities similar to bonds, shares, derivatives, and others:

“With such institutional demand wanting to realize publicity to crypto by way of an ISIN, it took us lower than two weeks from saying $500 million in AUM to now exceeding $1 billion. It’s quickly turning into even handed for a lot of wealth managers, personal banks, household places of work and people to allocate to crypto belongings.”

In keeping with a product break down chart within the announcement, the most important a part of 21Shares’ whole AUM got here from 21Shares Binance BNB ETP (ABNB) — an ETP monitoring the funding outcomes of Binance Coin (BNB). BNB’s dominant share within the whole AUM comes amid Binance Coin’s latest surge, which noticed it turn into the world’s third-largest cryptocurrency on Feb. 19.

Supply: 21Shares

As of Feb. 18, ABNB was apparently nonetheless behind 21Shares Bitcoin ETP, or ABTC, with AUM amounting to round $214 milion, whereas ABTC AUM stood at $272 million, based on official data on the 21Shares web site.

Previously branded as Amun AG, 21Shares is understood for launching the world’s first multi-crypto ETP, itemizing the product SIX Swiss Alternate in November 2018. In simply over two years after launching its first crypto ETP, 21Shares has been actively diversifying its crypto ETP providing, witnessing a 200-fold enhance in AUM. In early February, 21Shares launched the world’s first ETP primarily based on Polkadot (DOT).