21Shares (formerly Amun), a crypto exchange-traded products (ETPs) provider, has crossed $100 million assets under management (AUM) mark for the first time.
Revealing the news to The Block on Monday, 21Shares said its products are seeing increasing demand from retail and institutional investors across Europe. 21Shares currently provides 11 ETPs, which are listed across Switzerland exchanges SIX and BX Swiss, as well as German exchange Deutsche Börse Xetra.
Out of the 11 ETPs, BNB (Binance coin) product is the most popular, crossing $25 million AUM, according to data provided by 21Shares to The Block. Tezos (XTZ) and bitcoin (BTC) ETPs follow next, with over $20 million and $19 million AUM, respectively.
Hany Rashwan, CEO of 21Shares, said the firm is now focused on achieving the AUM of $1 billion.
21Shares rivals Grayscale and CoinShares' XBT Provider both already manage assets of over $1 billion. Grayscale remains the market leader and currently has AUM of over $5.9 billion. XBT Provider has just crossed AUM of over $1 billion.