21Shares AG, a Switzerland-based cryptocurrency ETP issuer, announced today that it has crossed $1 billion in digital assets under management across its 12 different crypto ETPs. The company’s cryptocurrency assets under management jumped from $500 million to $1 billion within two weeks after a massive demand from institutional investors.
According to the official press release, several wealth managers, family offices, private banks and rich individuals are entering the cryptocurrency market to diversify their investment portfolios. The company has recently launched the world’s first-ever Polkadot ETP on the Swiss Stock Exchange (SIX Exchange ).
Commenting on the recent announcement, Hany Rashwan, CEO of 21Shares, said: “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. We expect to reach even greater heights in 2021 across both our AuM at 21Shares as well as across the crypto ecosystem.”
Crypto ETPs
Cryptocurrency exchange-traded products (ETPs) have gained significant attention in the last few months due to a surge in crypto prices. 21Shares has a total of 12 diversified crypto-asset ETPs listed on regulated exchanges in the DACH region. The company aims to expand the list of its physically-backed crypto ETPs in the future.
“21Shares is the only issuer that currently has an Ethereum ETP (AETH) on 2 regulated stock exchanges and 3 regulated exchange segments offering the Bitcoin ETP. No other crypto issuer has such a comprehensive offering on regulated markets. It owns over 90% of the market share of crypto basket ETPs and its latest product, the Polkadot ETP has gathered over $25million in 15 days, demonstrating the immense popularity of the 21Shares suite of crypto ETPs. It is the only issuer to have 9 crypto ETPs admitted to trading on the Stuttgart exchange,” the official announcement states.
