- 21Shares AG has surpassed the benchmark of $500 million in AuM
- The crypto issuer remained innovative to achieve the mark in just two years
- The firm has plans to deliver three more advanced crypto products shortly
- The growing institutional demand for cryptocurrency will soon bring ETFs to the United States
21Shares AG is a Switzerland-based crypto issuer servicing entire European Investors. Recently, the crypto issuer has joined the exclusive ETF/ETP club of global issuers to cross the $500 million benchmark in assets under management (AuM). In November 2019, the firm had listed it’s first physical and fully collateralized crypto basket ETP. Back then, the firm started with $5 million in assets and currently has amassed $77 million worth of institutional funds.
21Shares AG has built advanced crypto products
According to Hany Rashwan, the CEO of 21Shares AG, their competitors took almost two years to catch up to their innovative concept. However, in those two years, when others focused on solving the issues already solved by the crypto issuers, the crypto issuer continued to innovate and build even more advanced crypto products. Such advanced products also include the world’s first inverse Bitcoin ETP. Indeed, the ETP was also centrally cleared for the benefit of institutional investors.
21Shares AG continuously worked to bring new products to the market and helped investors to invest in cryptocurrency easily. Moreover, last week only the issuer had launched the world’s first Polkadot ETP (ADOT) on the most extensive Swiss Stock Exchange with close to $5 million in AuM as of the last close.
Plans of the crypto issuer to compete in the market
According to Rashwan, the firm remained ahead and operated on a severe curve than any of the other competitors in the market. Notably, the firm continued to innovate institutional financial products with its depth of knowledge in cryptocurrency and the ETP/ETF world. Rashwan revealed that shortly, the crypto issuer would deliver upto three more products in the market. Such products are expected to offer institutional and retail clients safe and easy access to digital assets. And the products will also show the financial market that blockchain protocols can be engineered to capture superior returns.
Would growing institutional demand bring BTC ETFs in the US?
Mostly since October 2020, it is being observed that institutional demand for cryptos is soaring. Currently, institutions in the US are investing in Bitcoin through trusts like Grayscale Bitcoin Investment Trust (GBTC). While crypto issuers like 21Shares offer crypto investments in many European countries by listing crypto ETF/ETP, the US SEC has rejected many ETF proposals. However, the new Biden administration has changed the SEC chief, which has hopes of the cryptosphere high of favorable regulations.
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