Crypto company 21Shares sees more interest from institutional investors
Published: Friday, Dec 1st 2023, 12:50
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The Zug-based crypto company 21Shares is seeing growing interest from institutional investors for investments in Bitcoin and other crypto assets. Not least thanks to the increasing regulation of the crypto sector, institutions such as pension funds are also becoming more confident about investing in such assets, says 21Shares co-founder and CEO Hany Rashwan.
With prices on the crypto market picking up significantly since the fall, 21Shares is also experiencing more inflows, as the CEO of the crypto investment product provider, which was founded five years ago, explained in an AWP interview. "Of the total inflows in the current year, around three quarters are attributable to the period since September," he explained. 21Shares offers over 30 different ETPs (exchange-traded products) in the crypto sector.
In the crypto sector, regulated market participants will be the winners in the future, said Rashwan, referring to the deep fall of the FTX exchange and the billion-euro fine against the largest crypto exchange Binance. Both companies were based in jurisdictions that hardly cared about regulation. "In our company or in companies such as the US exchange Coinbase, such incidents would not have been possible in the first place," he said with conviction.
At the same time, Rashwan sees less skepticism towards Bitcoin than a few years ago. "We now only meet a few people who predict the imminent death of Bitcoin - just a few years ago, we heard such statements time and again."
Since the launch of the first crypto ETP on the Swiss stock exchange in 2018, 21Shares has experienced ups and downs along with the crypto markets, confirms the company founder. "It took us a good two years to reach assets under management (AuM) of 30 million and we have since increased this to 3 billion dollars." After the setback due to the correction in the crypto markets, assets under management are now back at almost 2 billion and the goal is further growth.
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