21Shares Parent Company Raises $25 Million At Valuation Of $2 Billion
Investing business 21Shares’ parent company, 21.co, has raised $25 million in a capital round that was headed by Marshall Wace.
The company described itself in a release as “Switzerland’s largest crypto unicorn” after the funding raised its post-money valuation to $2 billion. Collab+Currency, Quiet Ventures, ETFS Capital, and Valor Equity Partners are additional investors in the round.
21Shares announced the investment round and its new parent company
The investment company, which was founded in 2018, is currently the biggest global issuer of bitcoin exchange-traded products (ETPs).
In May 2021, Amun Holdings, which held both 21Shares and token-provider Amun, launched a fundraising round with backers that included Morgan Creek Digital and CEO Cathie Wood of Ark Investment Management.
According to 21.co co-founder Hany Rashwan, the platform is now intended to connect 21Shares with Amun and other impending cryptocurrency ventures. He claimed that 21.co’s product stack, which aids in other asset managers and clients bringing goods to market, is comparable to Amazon Web Services.
According to the press statement, the company finished 2021 “on a nine-figure revenue run rate and has witnessed steady inflows, even amid adverse markets.”
The latest round, which was concluded amidst the weak crypto markets of 2022, will be utilized to fuel growth through product releases, market expansion, and employee recruiting.
The investment company has already been extending its reach in the Middle East and Europe. In August, the company named Sherif El-Haddad to oversee its Middle Eastern market division. Additionally, it hired several significant personnel from prestigious investment banks in Europe, including JPMorgan and Barclays.
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