While revealing major growth within this year in 2020, 21Shares, formerly referred to as Amun, now has over $100 Mln in assets under management, or AUM.
The CEO of 21Shares, Hany Rashwan, said that the AUM volumes spiked about 164% this year, up from just $39 Mln earlier in January. Consistent with the exec, 21Shares hit its $100 Mln milestone on 14th Aug., with the company’s AUM reaching a threshold of $101.6 Mln last Friday.
In line with Rashwan, 21Shares’ AUM surge has are available response to an increased demand for cryptocurrency investment services in Switzerland; the firm is one among the leading providers for crypto Exchange Traded Products, or ETPs. Till date, 21Shares’ ETP offering consists of 11 various ETPs like Cryptocurrency Basket Index ETP, 21Shares Bitcoin, and 21Shares Ethereum.
Rashwan added that the general spike in cryptocurrency prices isn’t the most important reason for his company’s success:
“From the beginning of the year, AUM is up around 164%. In only the last month and a half, trading is up over 20x over its usual levels. this means tons of new buyers, not just a rise in cryptocurrency prices.”
Rashwan added the new milestone also comes shortly after 21Shares launched its first physically-backed cryptocurrency ETP in Germany earlier in the month of July. Before the listing, 21Shares’s AUM stood at about $75 Mln, Rashwan added.
Formerly referred to as Amun AG, [21Shares] has been steadily developing its ETP offering. Earlier in January this year, the firm launched trading of [21Shares] Short Bitcoin ETP on Switzerland’s major stock market, SIX Swiss Exchange. Later in July this year, another renowned U.S. based cryptocurrency exchange and wallet service provider ‘Coinbase’ announced that 21Shares will use Coinbase Custody to secure the ETP.
In late July, cryptocurrency fund manager Grayscale revealed that its AUM had jumped by as much as $1 Bln in less than a period of 2 weeks.