page contents Swiss crypto ETP issuer passes $1B assets under management – The News Headline

Swiss crypto ETP issuer passes $1B assets under management

21Stocks, a Switzerland-based supplier of cryptocurrency exchange-traded merchandise, or ETPs, has recorded a 100% enlargement in property underneath control over the last two weeks.

The corporate introduced Monday that 21Stocks has handed the $1 billion mark in AUM throughout its assorted 12 crypto asset ETPs. 21Stocks CEO Hany Rashwan stated that the corporate has observed a meteoric upward thrust in its crypto ETP merchandise just lately, doubling AUM in not up to two weeks. The corporate prior to now introduced that 21Stocks broke $500 million in AUM on Feb. eight.

In keeping with the announcement, the large surge in 21Stocks’ crypto ETP trade is principally attributed to the speedy adoption of crypto through institutional traders in addition to the goods’ availability on regulated Ecu exchanges.

Rashwan stated that institutional traders are ready to spend money on 21Stocks’ crypto ETPs through the use of the Global Securities Identity Quantity, or ISIN, which is an international usual used to spot particular securities reminiscent of bonds, shares, derivatives, and others:

“With such institutional call for in need of to achieve publicity to crypto by means of an ISIN, it took us not up to two weeks from pronouncing $500 million in AUM to now exceeding $1 billion. It’s unexpectedly turning into considered for plenty of wealth managers, personal banks, circle of relatives places of work and folks to allocate to crypto property.”

In keeping with a product destroy down chart within the announcement, the most important a part of 21Stocks’ general AUM got here from 21Stocks Binance BNB ETP (ABNB) — an ETP monitoring the funding result of Binance Coin (BNB). BNB’s dominant proportion within the general AUM comes amid Binance Coin’s fresh surge, which noticed it turn out to be the sector’s third-largest cryptocurrency on Feb. 19.

Supply: 21Stocks

As of Feb. 18, ABNB used to be it appears nonetheless in the back of 21Stocks Bitcoin ETP, or ABTC, with AUM amounting to round $214 milion, whilst ABTC AUM stood at $272 million, in line with reputable data at the 21Stocks web site.

Previously branded as Amun AG, 21Stocks is understood for launching the sector’s first multi-crypto ETP, list the product SIX Swiss Trade in November 2018. In simply over two years after launching its first crypto ETP, 21Stocks has been actively diversifying its crypto ETP providing, witnessing a 200-fold build up in AUM. In early February, 21Stocks introduced the sector’s first ETP in keeping with Polkadot (DOT).

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