Crypto ETP provider 21Shares' Parent Firm Raises $25m
21.co, the parent company of European ETF issuer 21Shares, has completed a $25 million financing led by Marshall Wace at a valuation of $2 billion.
Other investors include Collab+Currency, QuietVentures, ETFS Capital and Valor Equity Partners.
The financing has made 21.co - a crypto investment product company - the “largest crypto unicorn in Switzerland.”
Funds from this financing will be used to expand the business globally, driving rapid, targeted growth through first-in-class products, key market expansion and strategic talent acquisition. and is preparing for entry into the Middle East.
Last month, 21Shares hired Sherif El-Haddad as its head of the Middle East in Dubai, laying the groundwork for its future growth in the region.
Despite the downturn in the cryptocurrency market, 21.co also saw net inflows last year and peaked at $3 billion in assets under management last November 2021.
21.co said, "to support this rapid business growth, 21.co grew its headcount 75% during this period."
21.co is a Swiss publisher of crypto exchange-traded products. Its largest subsidiary, 21Shares, offers its products to investors in Sweden and Scandinavia through digital savings and investment platforms, as well as in seven countries. 39 encrypted ETP products.
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