Jupiter

ETF COIN

Chainlink

Billion

21Shares AG, the world’s largest issuer of cryptocurrency exchange-traded products for the global market, has reached a milestone of over $5 billion in assets under management.
Per <a href="https://finance.yahoo.com/news/21-co-celebrates-monumental-achievement-080000204.html" target="_blank" rel="noopener noreferrer nofollow">sources</a> close to the matter, 21.co, the parent company of 21Shares, now sees 21Shares accounting for $3.1 billion of its total assets under management (AUM).
The Swiss firm 21Shares, established in 2018 by Hany Rashwan and Ophelia Snyder, launched the first crypto exchange-traded product with the goal of removing the hassle of investing in cryptocurrencies and blockchain technology.
In February, 21Shares and ARK Invest <a href="https://crypto.news/bitcoin-etf-ark-21shares-chainlink/" rel="noopener noreferrer nofollow">partnered</a> with Chainlink to enhance transparency in its Bitcoin ETF. This integration positioned ARK and 21Shares as the second Bitcoin ETF issuer to make holdings data accessible on-chain.
You might also like: <a href="https://crypto.news/alternative-asset-manager-89-billion-funds-blockchain/" rel="noopener noreferrer nofollow"> Alternative Asset Manager with $89 Billion AUM to Put Funds on Blockchain </a>
Bitwise’s Chief Investment Officer, Matt Hougan, <a href="https://crypto.news/institutional-investors-poised-to-fuel-major-surge-in-bitcoin-etf-adoption-bitwise-predicts/" rel="noopener noreferrer nofollow">says</a> there will soon be a considerable uptick in institutional investment in Bitcoin (<a href="https://crypto.news/bitcoin-price/" rel="noopener noreferrer nofollow">BTC</a>) ETFs. According to Hougan, initial interest has been driven mainly by retailers, hedge funds, and independent financial advisors. Both investors and analysts expect a pivotal moment for Bitcoin akin to an IPO moment.
At the time of writing, the price of BTC is hovering around the $65,000 area after successfully hitting a new all-time high (ATH) of $69,045 on Mar. 5, as Bitcoin’s market cap now stands at $1.29 trillion.&nbsp;
However, not all of the company’s journey has been smooth sailing. <a href="https://crypto.news/jupiter-asset-management-cancels-xrp-etp-investment/" rel="noopener noreferrer nofollow">Jupiter Asset Management</a>, with assets exceeding $65.8 billion, reversed its decision to invest in the 21Shares Ripple XRP ETP due to regulatory concerns in Ireland.
Ireland’s regulatory framework prohibits crypto exposure in UCITS funds, prompting Jupiter’s Gold &amp; Silver Fund to sell its cryptocurrency ETP holding at a loss. Recent indications suggest that UCITS funds may not be allowed to invest in crypto assets in Ireland and France.
Read more: <a href="https://crypto.news/ark-21shares-revamps-ethereum-etf-proposal-with-cash-creation-model-and-staking-plan/" rel="noopener noreferrer nofollow"> ARK 21Shares revamps Ethereum ETF proposal with cash creation model and staking plan </a>

21Shares hits $5b AUM milestone as ETF mania intensifies

crypto.news

Other articles published on Mar 6, 2024

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