21Shares, formerly known as Amun, is now managing $ 100 million in assets (AUM) and seeing significant growth in 2020.

Hany Rashwan, CEO of 21Shares, told Cointelegraph on August 17 that the volume of assets under management had increased 164% this year, down from just $ 39 million in early January. According to the CEO, 21Shares reached $ 100 million on August 14. The company’s assets under management hit the $ 101.6 million threshold last Friday.

According to Rashwan, 21Shares’ increase in managed assets is due to an increase in demand for cryptocurrency investment services in Switzerland. The company is one of the largest providers of Exchange Traded Products (ETPs). So far, 21Shares ETP Offer consists of 11 different ETPs such as Crypto Basket Index ETP, 21Shares Bitcoin and 21Shares Ethereum.

Rashwan said that the general rise in cryptocurrency prices is not the main reason behind his company’s success:

AUM has increased by around 164% since the beginning of the year. In the past month and a half alone, it was trading 20 times higher than usual. This indicates a lot of new buyers, not just a spike in cryptocurrency prices. ”

Rashwan added that this new achievement also comes shortly after 21Shares launched the first physically secure cryptocurrency in Germany in July. Rashwan noted that before it went public, 21Shares’ managed assets were around $ 75 million.

21Shares, formerly known as Amun AG, has continuously developed ETP offerings. In January 2020, the company began trading 21Shares Short Bitcoin ETP on the main Swiss exchange, the SIX Swiss Exchange. In early July, US cryptocurrency exchange and wallet service Coinbase announced that 21Shares would use Coinbase Custody to secure ETP.

In late July, cryptocurrency fund manager Grayscale announced that its assets under management had increased by as much as $ 1 billion in less than two weeks.

Source: CoinTelegraph

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