The Swiss company 21Shares, which offers cryptocurrency trading products, or ETP, has registered 100% growth in assets under management over the past two weeks.

The company announced on Monday that 21Shares has exceeded $ 1 billion in assets managed through 12 different cryptocurrency ETPs. Hani Rashwan, CEO of 21Shares, said the company has recently seen a significant increase in sales of ETP cryptocurrency products, with assets under management doubling in less than two weeks. The company previously announced that 21Shares had lost $ 500 million in assets under management on February 8.

According to the announcement, the explosive growth in 21Shares’ cryptocurrency ETP business is mainly due to the rapid adoption of the cryptocurrency by institutional investors, as well as the availability of products on regulated European exchanges.

Rashwan said that institutional investors can invest in cryptographic ETP 21Shares using the International Securities Identification Number, or ISIN, which is a global standard used to identify specific securities such as bonds, stocks, derivatives and more:

“With such an institutional demand that wanted to access cryptocurrency through ISIN, it took us less than two weeks from the announcement of $ 500 million in total assets until we now exceeded $ 1 billion. For many asset managers, private banks, family offices and individuals, it has become wise to distribute crypto assets.
According to the product distribution in the announcement, the majority of 21Shares’ total assets came from 21Shares Binance BNB ETP (ABNB) – an ETP that tracks the performance of investments in Binance Coins (BNB). BNB’s dominant share of total assets comes amid the recent Binance Coin boom, which made it the third largest cryptocurrency in the world on 19 February.

As of February 18, ABNB was apparently still after 21Shares Bitcoin ETP, or ABTC, with around $ 214 million in assets under management, while ABTC AUM stood at $ 272 million, according to 21Shares official figures.

Formerly known as Amun AG, 21Shares was best known for launching the world’s first multi-crypto ETP, listing the SIX Swiss Exchange product in November 2018. Just two years after the launch of its first cryptocurrency ETP, 21Shares has actively diversified its encrypted ETP -offer. , Which means 200x magnification of AUM. In early February, 21Shares launched the world’s first ETP (DOT) based on Polkadot.