Cryptocurrency ETP provider 21Shares Achieves $1 million AUM Mark

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • 21Shares on 17th August achieved a milestone of $100 million in AUM or Assets Under Management.
  • From the past year till present Bitcoin has increased in value by 63.8%, Ethereum as 228.2% and Tezos as 207.4%.
  • Company hired Laurent Kssis, CEO of XBT Provider for the position of Managing Director and Global Head of Exchanged Targeted Products.

The swiss-based company, 21Shares on 17th August achieved a milestone of $100 million in Assets Under Management (AUM). 21Shares is Zug, Switzerland registered company with Zurich, New York City and Berlin as other office locations. CEO Hany Rashwan said that this achievement was the embracement from investors within a year of operations in Europe. He continued to this while setting the goal of $1 billion as the future target. 

The reason behind the increase of AUM

From the past year till present Bitcoin has increased in value by 63.8%, Ethereum as 228.2% and Tezos as 207.4%. In October 2019 Amun (21Shares) partnered with Binance to start their BNB ETP. This is currently their largest by evaluation ETP with a value of $25.3M AUM. This year, the company also listed their bitcoin Exchange Traded Product (ETP) on Deutsche Boerse. 21Shares became the second company to do this only after the SIX Swiss. 

This benefited the company with $19.2M AUMs and $15.7M AUM of Crypto Basket Index ETP (HODL). These few big numbers were the key to reach the $1 million milestones.

Business From Swiss

21Shares is also listed on two of the biggest Swiss exchanges where the company’s products gain market. The exchanges namely are SIX Swiss and BX Swiss. And the crypto-market fluctuations of July and August gave fuel to the burning market of the company as large volume trading was witnessed. The trading occurred from retail or single traders as well as the big institutional-based traders.

The milestone achieved is not an overnight fluctuation in the market or a sudden boom by a big client. 21Shares’ trading volume was continuously increasing from the start of the month. Its trading volume across their 11 products reached CHF 18.5m. This was a huge volume on SIX Swiss as it accounted for 75% of all trading from the combined crypto-related products on their platform.

21Shares also launched the BTC/ETH ETP or ABBA with 90% volume of bitcoin and 105 that of Ethereum. And all this came with the hiring of Laurent Kssis, CEO of XBT Provider for the position of Managing Director and Global Head of Exchanged Targeted Products.

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