21Shares

21shares
IndustryInvestment management
FoundedJuly 2018 (2018-07)
Founders
HeadquartersZurich, Switzerland
ProductsExchange-traded funds (ETFs); Exchange-traded products (ETPs)
AUM$11.2 billion[1]
Websitewww.21shares.com/en-ch

21shares is a Switzerland-based financial services company that issues cryptocurrency exchange-traded products (ETPs). The company is headquartered in Zurich, with offices in New York City and London.

History

21shares was co-founded in July 2018 by Hany Rashwan and Ophelia Snyder and is headquartered in Zurich, Switzerland.[2][3]

In November 2018, the company listed the first physically-backed crypto ETP – HODL – on the SIX Swiss Exchange.[4]

In 2019, 21shares listed their first product on German Stock Exchange XETRA.[5]

In 2022, 21shares had 46 listed products in seven countries and entered the Middle East in October 2022 with the listing of a Bitcoin ETP on Nasdaq Dubai, making it the Middle East's first physically-backed Bitcoin ETP.[6]

In 2024, 21shares expanded into the United Kingdom, listing crypto-backed ETPs on the London Stock Exchange.[7]

In June 2024, 21shares filed an S-1 for spot Solana exchange-traded fund in the U.S.[8] The following month, in July 2024, VanEck and 21shares sent amended Ether exchange-traded fund filings to the SEC to list and trade shares of a spot Ether exchange-traded fund.[9] In September of 2024, 21shares launched a Bitcoin token on the Ethereum blockchain.[10]

Management

Until December 2024, Hany Rashwan and Ophelia Snyder served as the company's chief executive officer and president, respectively. Following a corporate restructuring, Russell Barlow was appointed chief executive officer and Duncan Moir became president.[11][12][13]

Products

21shares offers cryptocurrency exchange-traded products (ETPs), primarily structured as physically backed instruments in which the underlying crypto assets are held in custody.[14][15][16] In 2025, the company filed applications to launch exchange-traded funds in the United States linked to Solana and XRP.[17]

Reception

21shares has been cited by financial media in coverage related to cryptocurrency markets and the 2024 U.S. presidential election.[18][19] In 2024, Innovation.zuerich described 21shares as Switzerland's largest crypto unicorn, citing a valuation of approximately $2 billion.[20]

References

  1. ^ "Trackinsight". www.trackinsight.com.
  2. ^ "21Shares 2025 Company Profile: Valuation, Funding & Investors". PitchBook. Retrieved March 12, 2025.
  3. ^ "Ophelia Snyder". Forbes. Retrieved March 12, 2025.
  4. ^ "21Shares Crypto Basket Index ETP Price & News". WSJ. Retrieved March 12, 2025.
  5. ^ "Deutsche Börse Xetra - 21Shares AG". XETRA (Press release). Retrieved March 12, 2025.
  6. ^ Saba, Yousef (October 12, 2022). "Crypto firm 21Shares lists bitcoin ETP on Nasdaq Dubai". Reuters. Retrieved December 31, 2025.
  7. ^ "WisdomTree, 21Shares to list crypto products on London Stock Exchange". Reuters. Retrieved March 12, 2025.{{cite news}}: CS1 maint: deprecated archival service (link)
  8. ^ McGee, Suzanne (July 28, 2024). "21Shares files for permission to offer ETF linked to cryptocurrency Solana". Reuters. Retrieved December 31, 2025.
  9. ^ Rowe, Niamh. "VanEck and 21Shares file for Solana ETFs—a 'bet' on a Trump victory". Fortune Crypto. Retrieved March 12, 2025.
  10. ^ Chandler, Beverly (September 4, 2024). "21.co launches Wrapped Bitcoin on Ethereum: 21 BTC". ETF Express. Retrieved March 18, 2025.
  11. ^ Nikolova, Maria (December 3, 2024). "21Shares and 21.co Technologies to become separate entities". FX News Group. Retrieved March 12, 2025.
  12. ^ Chandler, Beverly (December 3, 2024). "21.co announces plans for new operating structure". ETF Express. Retrieved March 12, 2025.
  13. ^ "21.co separates asset management and technology businesses". StartupTicker. December 3, 2024. Retrieved December 31, 2025.
  14. ^ "21Shares calls for regulatory clarity on crypto UCITS eligibility". ETF Stream. October 8, 2024. Retrieved March 12, 2025.
  15. ^ Nikolova, Maria (October 7, 2024). "21Shares urges ESMA to create regulatory framework including crypto assets in UCITS funds". FX News Group. Retrieved March 12, 2025.
  16. ^ McGleenon, Brian (June 25, 2024). "Zodia Custody partners with 21Shares for crypto ETP custody services in Europe". The Block. Retrieved December 31, 2025.{{cite web}}: CS1 maint: deprecated archival service (link)
  17. ^ Chandler, Beverly (November 22, 2024). "21Shares files to launch a Solana exchange-traded fund in the US". ETF Express. Retrieved March 12, 2025.
  18. ^ Yue, Frances (September 4, 2024). "What Friday's jobs report could mean for bitcoin's next move". MarketWatch. Retrieved March 12, 2025.
  19. ^ Shukla, Sidhartha (November 7, 2024). "Cryptocurrencies Tainted by SEC Suits Surge After Trump Victory". Bloomberg.
  20. ^ "21.co Raises $25 Million on $2 Billion Valuation, Becoming Switzerland's Largest Crypto Unicorn - Innovation.zuerich". Retrieved March 12, 2025.
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