21Shares Has Added Over 160% to Its Managed Crypto Funds in 2020

21Shares Has Added Over 160% to Its Managed Crypto Funds in 2020

21Shares, previously often called Amun, now has $100 million in belongings underneath administration, or AUM, posting main progress in 2020.

Hany Rashwan, CEO of 21Shares, advised Cointelegraph on Aug. 17 that AUM volumes spiked about 164% this yr, up from simply $39 million in early January. Based on the exec, 21Shares hit its $100 million milestone on Aug. 14, with the corporate’s AUM reaching a threshold of $101.6 million final Friday.

Based on Rashwan, 21Shares’ AUM surge has are available response to an elevated demand for crypto funding companies in Switzerland; the agency is among the largest suppliers for crypto Trade Traded Merchandise, or ETPs. Up to now, 21Shares’ ETP providing consists of 11 numerous ETPs like Crypto Basket Index ETP, 21Shares Bitcoin, and 21Shares Ethereum.

Rashwan stated that the general spike in crypto costs just isn’t the most important cause for his firm’s success:

“From the beginning of the yr, AUM is up round 164%. In simply the final month and a half, buying and selling is up over 20x greater than its common ranges. This means numerous new consumers, not simply a rise in crypto costs.”

Rashwan added the brand new milestone additionally comes shortly after 21Shares launched its first physically-backed crypto ETP in Germany in July. Previous to the itemizing, 21Shares’s AUM stood at about $75 million, Rashwan famous.

Previously often called Amun AG, 21Shares has been steadily creating its ETP providing. In January 2020, the agency launched buying and selling of 21Shares Quick Bitcoin ETP on Switzerland’s main inventory trade, SIX Swiss Trade. In early July, main American crypto trade and pockets service Coinbase introduced that 21Shares will use Coinbase Custody to safe the ETP.

In late July, crypto fund supervisor Grayscale revealed that its AUM had jumped by as a lot as $1 billion in lower than two weeks.