Crypto Firm 21.co Raises $25 Million to Value it at $2 Billion

The parent business of 21Shares, a crypto investment product company called 21.co announced on Tuesday that it had raised $25 million in a fundraising round headed by Marshall Wace, giving the company a $2 billion valuation. The company said in a statement that it will use the new funding to “continue to drive quick, targeted growth through first-of-their-kind products, major market expansions, and smart talent acquisitions.” 21.co – Switzerland’s Largest Crypto Unicorn According to the company, 21.co is now “Switzerland’s largest crypto unicorn” based on its post-money valuation. The investment round occurs when riskier assets are being shunned by investors due to the steep decline in cryptocurrency prices this year due to Federal Reserve rate hikes. Collab+Currency, Quiet Ventures, ETFS Capital, and Valor Equity Partners were also investing in the investment round. Launch of 21.co Parent Company On Tuesday, the firm announced the launch of the newly formed parent company, 21.co. 21Shares is the world’s largest issuer of cryptocurrency exchange-traded products (ETPs). It was the business’s first funding round in two years. The firm claimed it had sustained inflows amid depressed markets and finished 2021 “on a nine-figure revenue run rate.” According to the statement, 21.co has added $650 million in net new assets since September of last year, and its total assets under administration will reach $3 billion in November of 2021...