21Shares assets under management exceed $1 billion

The Swiss provider of crypto exchange-traded products 21Shares said assets under management (AUM) rose to $1 billion in two weeks. 

We are proud to announce that we have reached over $1 billion in assets under management! 🚀 pic.twitter.com/spoFrzwssx

— 21Shares (@21Shares_) February 22, 2021

In August the metric exceeded $100 million. On February 8 it reached $500 million. In two years, the company has demonstrated a 200-fold growth in AUM.

21Shares explained this dynamic by the sharp rise in institutional investors’ interest in digital assets, and the listing of exchange-traded products (ETP) on regulated European exchanges.

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Hani Rashwan, the head of the company, noted that investors are attracted by the existence of ISIN — the global identification standard for securities such as stocks and bonds.

“We expect to see further growth in metrics, both in AUM at 21Shares and across the entire cryptocurrency ecosystem,”, Rashwan said.

The company manages 12 ETPs based on various cryptocurrencies. 

According to data as of February 18, the largest share in AUM is held by the Bitcoin ETP ABTC with $272 million. In second place with $214 million is the Binance Coin (BNB) based ETP ABNB. Much of its position is explained by price surge in this coin recently.  

Structure of AUM across 12 ETPs managed by 21Shares. Data: 21Shares.

In February 4, the Swiss crypto ETP issuer launched trading of a Polkadot-based ETP.

In December 21Shares delisted the XRP token from Ripple from traded exchange-traded products.

In January, ForkLog reported that rival CoinShares, the asset manager, has quadrupled its AUM since August 2020 — to $4 billion.

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