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.
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