21Shares, formerly known as Amun, now has $ 100 million under managementor AUM, which will see significant growth in 2020.
Hany Rashwan, CEO of 21Shares, announced this to Cointelegraph on August 17th AUM volume soared only 164% this year from just $ 39 million in early January. According to the executive, 21Shares hit its $ 100 million milestone on August 14The company’s AUM hit a threshold of $ 101.6 million last Friday.
According to Rashwan 21Shares’ AUM surge is due to the increased demand for crypto investment services in Switzerland;; The company is one of the largest providers of products that are traded on a cryptocurrency exchange (ETP). Till date, The ETP offering from 21Shares consists of 11 different ETPs such as the Crypto Basket Index ETP, 21Shares Bitcoin and 21Shares Ethereum.
Rashwan said that The general rise in the price of cryptocurrencies is not the main reason for your company’s success::
“Since the beginning of the year, the AUM has risen 164%. In the last month and a half alone, trading has risen more than 20 times its usual level. This indicates a lot of new buyers, not just a rise in the price of cryptocurrencies.”
Rashwan added the new milestone after 21Shares launched its first physically assisted cryptocurrency ETP in Germany in July.. Before it was listed, the AUM for 21Shares was around $ 75 million, Rashwan said.
Formerly known as Amun AG, 21Shares has continuously developed its ETP offering. In January 2020, the company started 21Shares Short Bitcoin ETP trading on SIX Swiss Exchange, the major Swiss exchange. Early July, the largest American cryptocurrency exchange and wallet service Coinbase announced that 21Shares will use Coinbase Custody to secure ETP.
At the end of July, the crypto fund manager Grayscale showed that his AUM had shot up to $ 1 billion in less than two weeks.