21.co, the world’s leader in providing access to crypto through simple and easy-to-use products, today announced a $25 million round led by Marshall Wace. This round values the business up to $2 billion, making 21.co Switzerland’s largest crypto unicorn. 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. Other investors in the round include Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners.

“My co-founder, Ophelia, and I set out with a simple mission to make crypto more accessible,”

“Now, we’re the highest valued and largest tech startup in Switzerland – and we’re still only in the early days. 21.co remains committed to building innovative products that meet investor demand as this asset class continues to gain rapid momentum.”

                                                              Hany Rashwan, CEO and Co-Founder at 21.co.

The business revealed its new parent firm, 21.co, in addition to receiving investment. 21.co is a group of businesses, the largest of which is 21Shares, the largest issuer of cryptocurrency exchange-traded products (ETPs) in the world. 21Shares is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties.

“The success 21.co has experienced over the past four years is truly amazing,”

“We have built an incredibly diverse team, with some of the brightest minds in crypto and brought on best-in-class investors. Our drive to revolutionize the world of crypto and build bridges into the asset class is only just getting started.”

                                                          Ophelia Snyder, President and Co-Founder at 21.co.

The fact that this round, raised during Crypto Winter, was the company’s first in more than two years is evidence of both its early success and the rising interest among investors in this asset class. The fact that the company concluded 2021 with a nine-figure revenue run rate and has experienced consistent inflows even during bear markets is evidence of this investor desire. Between September 2021 and September 2022, 21.co added almost $650 million in net new assets, and in November of that same year, its AUM peaked at $3 billion. During this time, 21.co increased its personnel by 75% in order to support this brisk commercial expansion.

“At Marshall Wace, our culture is built around innovation – and we saw an immediate alignment of values when meeting with the team at 21.co. 21co is a first-mover in the crypto industry: the company is focused on growth, and committed to bringing new and innovative products to investors across markets – in a secure, accessible way,”

“Even in the midst of crypto winter, MW believes that 21.co has the potential to revolutionize the industry globally and we’re looking forward to working alongside the team.”

                                                           Amit Rajpal, Partner and CEO Asia at Marshall Wace.

Ophelia Snyder and Hany Rashwan created 21.co in 2018 with the goal of bridging the crypto world. Since then, 21.co has made great strides to maintain its position as a market leader by offering investors the most cutting-edge cryptocurrency exchange-traded products (ETPs), the widest range of token solutions, a decentralized software platform to create, list, and manage ETPs globally, as well as other forward-thinking solutions, all of which are supported by free institutional-grade research to inform investors about the developing industry.

“When I first met the team at 21.co, I understood their long-term vision and truly believed the company would transform the crypto ecosystem,”

“This round is a testament to 21.co’s early success and its ability to thrive in both bull and bear markets. I’m proud to be a part of the 21.co growth story.”

Cathie Wood, Founder, CEO and CIO of ARK Investment Management LLC, and an independent board member of 21.co.

21.co’s raise follows a year of significant growth and product innovation. Most notably, 21Shares:

• Launched innovative products, like the world’s first USD Yield ETP and the world’s first Bitcoin and Gold ETP on SIX Swiss Exchange
• Released the first crypto ETFs in Australia
• Published the sixth issue of its State of Crypto Report, which explores current trends in the crypto industry and what investors are doing to successfully optimize their crypto portfolios.
• Launched its Crypto Winter Suite, which includes products like the world’s cheapest Bitcoin ETP, 21Shares’ Bitcoin Core ETP, and the S&P Risk Controlled Bitcoin and Ethereum Index ETPs