21Shares reaches $100 million in assets under management

The Swiss provider of crypto exchange-traded products 21Shares, formerly known as Amun, said that assets under its management have for the first time surpassed $100 million.

We8re proud to announce that our digital asset ETPs have hit $100M assets under management. Onwards to $1B! 🚀https://t.co/zeUBminy1X

— 21Shares (@21Shares_) August 14, 2020

The firm emphasized that the metric surpassed the milestone amid rising trading volumes of its products in the first two weeks of August.

According to 21Shares’ site, the firm has already launched eleven ETPs, traded on the Swiss SIX and BX Swiss exchanges, as well as on Deutsche Börse’s Xetra platform.

The company’s most popular product is the Binance BNB ETP, based on an exchange token, with assets exceeding $25 million.

Following are the Tezos- and Bitcoin-based ETPs with $20.7 million and $19.2 million, respectively.

Source: The Block.

The least in demand is the Short Bitcoin ETP, which allows investors to profit from a fall in the price of the leading cryptocurrency.

21Shares says it was the first among European issuers of exchange-traded crypto products to reach $100 million under management. CEO Hani Rashwan said the next target is $1 billion.

As reported, the total assets under management by the American cryptocurrency company Grayscale Investments approached $6 billion.

Subscribe to Forklogs news on Facebook!