21.co, the new parent company of exchange-traded products (ETP) provider 21Shares, has reportedly turned into “Switzerland’s largest crypto unicorn”. 

Specifically, It successfully reeled in $25 million via a fundraising led by London-headquartered hedge fund Marshall Wace, which will help the firm achieve the $2 billion benchmark in valuation.

21.co is reportedly built with a purpose of uniting 21Shares with third-party token provider Amun and other upcoming crypto initiatives working towards developing bridges into the crypto sphere, 21.co founder Hany Rashwan revealed. 

All crypto ETP products introduced by 21Shares will maintain similar nomenclature, per Rashwan. He further claimed that the new name will not have many adjustments regarding the way 21Shares goes about with its business.

Per Rashwan, the freshly secured funds will assist 21.co to keep on the expansion of its business worldwide. The company is particularly concentrated on securing extra traction in 21.co’s core markets in Europe and is carrying out preparations for its entry into the Middle East, the CEO noted.

Rashwan additionally noted that 21.co reeled in major growth metrics in 2022 regardless of the ongoing cryptocurrency winter.

Per the CEO, 21.co posted over $650 million in net new assets between September last year and September 2022, achieving the highest level of assets under management at $3 billion in November 2021. 

The firm has ramped up its total headcount by 75% throughout the last year, Rashwan said. 

“These milestones demonstrate the confidence investors hold in the future of crypto, even during crypto winter.”