Amid a market rebound, crypto asset manager 21Shares has achieved a significant milestone by surpassing $5 billion in Assets Under Management (AUM). In a press release issued on Tuesday, the company, renowned as the largest issuer of cryptocurrency exchange-traded products (ETPs) globally, disclosed that $3.17 billion of the total AUM is attributable to its subsidiary, 21Shares AG, under the umbrella of 21.co.
Ophelia Snyder, co-founder and President of 21Shares, expressed pride in the achievement, attributing it to the dedication and hard work of the team. She emphasized that the tireless efforts of the team members have been instrumental in propelling the company to this remarkable milestone.
“We extend our deepest gratitude to every member of the 21Shares family for their unwavering commitment to excellence.”
21Shares: Leading the Crypto Industry Through Rapid Expansion and Innovation
21Shares is experiencing rapid growth in various aspects of its operations within the cryptocurrency sector. This expansion encompasses several key areas, including assets under management (AUM), market presence, and product offerings. As the crypto market continues to evolve and gain mainstream acceptance, 21Shares is capitalizing on this momentum to establish itself as a leading player in the industry.
One significant indicator of 21Shares’ rapid growth is the substantial increase in its assets under management (AUM). This metric reflects the total value of assets, such as cryptocurrencies and other digital assets, that the company manages on behalf of its clients. The surpassing of the $5 billion mark in AUM underscores the trust and confidence that investors place in 21Shares’ ability to navigate the volatile crypto market and generate favorable returns.
Furthermore, 21Shares’ rapid growth is evident in its expanding market presence and global reach. The company has solidified its position as the largest issuer of cryptocurrency exchange-traded products (ETPs) worldwide. This achievement reflects its success in offering innovative investment products that cater to the growing demand for crypto exposure among institutional and retail investors alike.
Additionally, 21Shares’ growth trajectory is fueled by its commitment to product innovation and diversification. The company continues to introduce new ETPs and other investment vehicles that provide exposure to a wide range of cryptocurrencies and blockchain-related assets. By offering a diverse portfolio of investment options, 21Shares is able to cater to the evolving needs and preferences of its clients while capturing opportunities in emerging segments of the crypto market.
Overall, 21Shares’ rapid growth underscores its resilience, adaptability, and strategic vision in navigating the dynamic landscape of the cryptocurrency industry. As the crypto market continues to mature and evolve, 21Shares is well-positioned to capitalize on new opportunities and further solidify its position as a leader in the space.
There’s been a surge in Assets Under Management (AUM) for crypto custody firms.
In the recent resurgence of crypto markets, Balance, a digital asset custodian headquartered in Canada, proudly announced that it has once again surpassed $2 billion in assets under custody (AUC).
Similarly, Korea Digital Asset (KODA), the leading institutional crypto custody service in South Korea, has witnessed remarkable growth in the crypto assets under its care. Recent reports from the company reveal that the value of these assets surged by nearly 248% during the latter half of 2023.
Established through a collaboration between major Korean bank KB Bank, crypto venture capital firm Hashed, and blockchain tech firm Haechi Labs, KODA disclosed that the value of the assets it oversees soared to approximately 8 trillion Korean won ($6 billion) by the end of the previous year. This represents a substantial increase from the 2.3 trillion won recorded at the close of June 2023.
Analysts at Bernstein Research predict an unprecedented growth trajectory for crypto funds, forecasting a valuation between $500 billion and $650 billion within the next five years. This projection marks a significant leap from the current estimated valuation of approximately $50 billion.
