Parent company of 21Shares raises $25 million at a $2 billion valuation

21.co, the parent company of the cryptocurrency ETP 21Shares, raised $25 million in a funding round led by hedge fund Marshall Wace. Reuters reports.

The funds were also provided by Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners.

The company’s valuation reached $2 billion. According to the firm, this makes it the “largest cryptocurrency unicorn in Switzerland”.

“With the funding round, 21.co will continue to drive rapid targeted growth through the launch of first-of-its-kind products, expansion into key markets and strategic recruitment of talent,” the agency quotes 21.co’s statement.

In early 2021, the provider of cryptocurrency products reported that assets under management rose to $1 billion.

In May 2022, 21Shares and asset manager ARK Invest filed a new joint application to launch an exchange-traded fund based on the first cryptocurrency.

Earlier, the provider received a listing for an ETP based on FTX Token and Decentraland, as well as on Bitcoin and Ethereum on the Swiss BX Swiss exchange.

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