21Shares Parent Firm Becomes Switzerland’s Crypto Giant As Gets Valued At $2B

Everyday, the popularity of cryptocurrency sector grows. Because of its huge potential to earn more than other assets, there are increasing numbers of companies investing in this sector. This emerging industry is a significant contributor to the overall system, providing innovative crypto-related products or services.

Some of these service companies engage in fundraising to ensure the financial success of many of their projects. This is one of the most well-known activities in crypto.

They often raise the majority of funds necessary to support their current or future projects. This is often done by top-tier crypto professionals.

21.co, 21Shares’ parent company, has just announced the results of its fundraising round. The round was led by Marshall Wace, a crypto ETF broker, and generated approximately $25 million at the end.

The 21.co fundraising round was the first in its type over the last two years. Other than Marshall Wace, the lead company in this round of fundraising, several other companies participated. Quiet Ventures was the leading company. Collab+Currency and ETFS Capital were also involved in fundraising.

21.co has a higher valuation due to fundraising

21.co saw a rise in valuation due to the realization fund. It is now valued at $2 billion. According to the firm, it has climbed a higher positive ladder which will allow for an improvement in its performance. 21.co is now the biggest cryptocurrency unicorn in Switzerland thanks to its fundraising round and increase in valuation.

It has supported the parent company’s activities by creating support moves. 21Shares has added tasks to assist 21.co with its growth goals in Europe and the Middle East.

21Shares also entered the US market by launching two private funds in May. Accredited investors will have access to these funds.

Crypto Market Expansion is the Firm’s Focus

21.co announced its increased valuation as its focus. The company stated that it would focus on its products while operating efficiently to achieve rapid growth. It also promised that it would acquire strategic talent and expand key markets.

21Shares Parent Firm Becomes Switzerland's Crypto Giant As Gets Valued At $2B
The cryptocurrency market is expected to rebound above $2 trillion. Source: TradingView.com Crypto Total Market Cap| Source: Crypto Total Market Cap on TradingView.com

ETF issuers have also drawn up plans to add institutional and retail investors. This firm decided to make regulatory compliance its top priority. The firm will follow regulations within the region where it operates.

Recall that by the end of 2021, 21.co’s revenue record was at the level of billions. The company’s performance during crypto winter was also not bad. The company was able to hold onto its anchor during the storm, and it still managed to record sustainable inflows.

Featured Image from BBC. Chart by TradingView.com

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