21Shares, a Swiss provider of cryptocurrency trading products, or ETPs, has reported 100% growth in assets under management over the past two weeks.

The company announced Monday that 21Shares has donated $ 1 billion in stocks in 12 varied ETP cryptocurrencies. Hany Rashwan, CEO of 21Shares, said the company has seen a massive spike in the number of ETP crypto products recently, which has doubled assets under management in less than two weeks. The company previously announced that 21Shares had invested $ 500 million in assets under management on February 8th.

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

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

“With this institutional demand that wanted to access cryptocurrency through ISIN, it took us less than two weeks from announcing $ 500 million in assets under management to more than $ 1 billion. For many asset managers, private banks, family offices, and individuals, the transfer of funds became possible. Quickly encrypted currency. ”
According to the advertisement’s product allocation chart, most of the AUM 21Shares total came from 21Shares Binance BNB ETP (ABNB) – an ETP that tracks the performance of Binance Coin (BNB) investments. BNB’s dominant share of total assets under management comes from the recent growth of Binance coins, making it the third largest cryptocurrency in the world on February 19.

As of February 18, ABNB was still apparently lagging behind 21Shares Bitcoin ETP, or ABTC, with AUM at around $ 214 million, while ABTC AUM was $ 272 million, according to official figures on 21Shares.

21Shares, formerly known as Amun AG, is best known for launching the world’s first multi-cryptocurrency ETP and listing the SIX Swiss Exchange product on the exchange in November 2018. Just over two years after the launch of the first cryptocurrency ETP, 21Shares diversified its cryptocurrency business. ETP. A proposal showing a 200-fold increase in AUM. In early February, 21Shares launched the world’s first Polkadot-based ETP (DOT).

Source: CoinTelegraph