21.co, the parent crypto ETF issuer 21Shares, has announced raising $25 million in a funding round led by Marshall Wace.
Following the latest capital infusion, the company is now valued at $2 billion.
- The firm also said that the post-money valuation makes it “Switzerland’s largest crypto unicorn.”
- The funding round, which was 21.co’s first in the last two years, also saw the participation of Collab+Currency, Quiet Ventures, ETFS Capital, and Valor Equity Partners.
The company’s statement read,
“With this round of financing, 21. co will continue to drive rapid, targeted growth through first-of-their-kind products, key market expansions, and strategic talent acquisitions.”
- 21.co reportedly ended 2021 “on a nine-figure revenue run rate.” Even during the market downturn, the company is said to have witnessed sustained inflows.
- Over the last year, 21.co recorded $650 million in net new assets, with assets under management climbing all the way to $3 billion in November 2021.
- Its subsidiary – 21Shares – also has onboarded several executives tasked with aiding the company spread its reach in various European countries and expand to the Middle East.
- The Switzerland-based investment product issuer recently revealed plans to introduce retail and institutional investors to the asset class while simultaneously maintaining compliance with regulatory requirements in the regions.
- In May, 21Shares entered the US market with the launch of two private funds tailored for accredited investors in the country to gain exposure to crypto assets.
- The firm had previously teamed up with ARK Investment Management in an attempt to roll out a Spot Bitcoin ETF for US Investors, which was later rejected by the SEC.
The post 21Shares Parent Fetches $25M Funding, Post-Money Valuation Hits $2B appeared first on CryptoPotato.