Crypto asset manager 21Shares has surpassed $5 billion in Assets Under Management (AUM) amid market rebound.
In a Tuesday press release , the world’s largest issuer of cryptocurrency exchange-traded products (ETPs) said $3.17 billion is attributable to 21Shares AG, a subsidiary of 21.co.
“Achieving 5 billion in AUM is a testament to the dedication and hard work of our team, whose tireless efforts have propelled us to this remarkable milestone,” Ophelia Snyder, co-founder and President of 21Shares, said.
“We extend our deepest gratitude to every member of the 21Shares family for their unwavering commitment to excellence.”
21Shares has experienced rapid growth over the past couple of years.
Just last month, the company joined Ark Invest to refile an application for a spot market Ethereum ETF.
The most notable revision elaborates on the ETFs share creation and redemption process.
Creation and redemption are unique features of ETFs that make them more transparent than other investment vehicles.
The mechanism keeps the share price of the funds close to the net asset value (NAV) of the underlying assets.
More recently, Ark Invest and 21Shares announced a collaboration to enhance transparency for their ARK 21Shares Bitcoin ETF (ARKB) by integrating Chainlink’s Proof of Reserve platform to verify holdings data.
21Shares’s diverse range of ETPs allow investors to gain exposure to cryptocurrencies through traditional investment vehicles without the need to directly buy, store, or manage the cryptocurrencies themselves.
21Shares ETPs are listed on various stock exchanges, making them accessible to investors who have accounts with traditional brokers that have access to these exchanges.
The ETPs are backed
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