Swiss 21Shares hits record valuation
The crypto ETP provider 21Shares has raised $25 million in a funding round.
The crypto ETP provider 21Shares has raised $25 million in a funding round. In a press release, the company also announced changing its corporate structure.
According to the press release, the newly formed umbrella company is 21.co, created by the mega merger of crypto ETPs (Exchange Traded Products), 21Shares, the tech platform Onyx and the New York-based token issuer Amun.
The funding round gives 21.co a record valuation of $2 billion. With that, the new umbrella company is the largest crypto unicorn in Switzerland. Co-founder of 21Shares Ophelia Snyder sees the capital raise, which is taking shape during the crypto winter, as "proof of the early success of the company and the growing demand from investors in this asset class".
The current fiscal year, ending September 2022, appears to have been a resounding success: as assets under management grew, headcount also rose by 75%. Incidentally, the company's product lineup also includes the 21Shares ByteTree Bold Index ETP. With it, the company combines crypto equities with gold equities.
