21Shares AG, the leading issuer of cryptocurrency exchange-traded products globally, has achieved a significant milestone with over $5 billion in assets under management.

According to reports, 21.co, the parent company of 21Shares, has $3.1 billion of its total assets under management attributed to 21Shares.

Founded in 2018 by Hany Rashwan and Ophelia Snyder, Swiss firm 21Shares introduced the first crypto exchange-traded product to simplify the process of investing in cryptocurrencies and blockchain technology.

In a recent development, 21Shares partnered with ARK Invest and Chainlink to improve transparency in its Bitcoin ETF. This collaboration positioned ARK and 21Shares as the second Bitcoin ETF issuer to provide on-chain access to holdings data.

Bitwise’s Chief Investment Officer, Matt Hougan, predicts a surge in institutional investment in Bitcoin (BTC) ETFs. Initial interest has been driven by retailers, hedge funds, and independent financial advisors, indicating a significant moment for Bitcoin on par with an IPO event.

As of now, BTC is trading around $65,000, following a new all-time high of $69,045 on Mar. 5, with a market cap of $1.29 trillion.

Despite its success, 21Shares faced challenges as Jupiter Asset Management, managing assets over $65.8 billion, decided against investing in the 21Shares Ripple XRP ETP due to regulatory concerns in Ireland. Regulatory restrictions in Ireland and France may limit UCITS funds from investing in crypto assets.

For more updates on the latest cryptocurrency news, continue exploring Global Crypto News.

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