Crypto ETPs provider 21Shares crosses $100 million AUM for the first time

Cryptocurrency • August 17, 2020, 6:25AM EDT
UPDATED: August 17, 2020, 6:27AM EDT
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21Shares (formerly Amun), a crypto exchange-traded products (ETPs) provider, has crossed $100 million assets under management (AUM) mark for the first time.

Revealing the news to The Block on Monday, 21Shares said its products are seeing increasing demand from retail and institutional investors across Europe. 21Shares currently provides 11 ETPs, which are listed across Switzerland exchanges SIX and BX Swiss, as well as German exchange Deutsche Börse Xetra.

Out of the 11 ETPs, BNB (Binance coin) product is the most popular, crossing $25 million AUM, according to data provided by 21Shares to The Block. Tezos (XTZ) and bitcoin (BTC) ETPs follow next, with over $20 million and $19 million AUM, respectively.

Source: 21Shares

Hany Rashwan, CEO of 21Shares, said the firm is now focused on achieving the AUM of $1 billion.

21Shares rivals Grayscale and CoinShares' XBT Provider both already manage assets of over $1 billion. Grayscale remains the market leader and currently has AUM of over $5.9 billion. XBT Provider has just crossed AUM of over $1 billion.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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