21Shares, a Switzerland-based provider of cryptocurrency exchange-traded products, or ETPs, has recorded a 100% growth in assets under management over the past two weeks.
The company announced Monday that 21Shares has passed the $1 billion mark in AUM across its diversified 12 crypto asset ETPs. 21Shares CEO Hany Rashwan said that the company has seen a meteoric rise in its crypto ETP products recently, doubling AUM in less than two weeks. The company previously announced that 21Shares broke $500 million in AUM on Feb. 8.
According to the announcement, the massive surge in 21Shares’ crypto ETP business is mainly attributed to the rapid adoption of crypto by institutional investors as well as the products’ availability on regulated European exchanges.
Rashwan said that institutional investors are able to invest in 21Shares’ crypto ETPs by using the International Securities Identification Number, or ISIN, which is a global standard used to identify specific securities such as bonds, stocks, derivatives, and others: