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21Shares
From Wikipedia, the free encyclopedia
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21Shares is a private company that offers cryptocurrency exchange traded products (ETPs) outside the United States. They are headquartered in Zurich, Switzerland, with offices in Zurich, New York City, and London.
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History
Hany Rashwan and Ophelia Snyder co-founded 21Shares in July 2018 to improve crypto access.[2] It was founded and is headquartered in Zurich, Switzerland.[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]
Early in 2024, 21shares entered the London market and in May of that year launched 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]
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Products
21Shares offers crypto investments products. The company has advocated for institutionalizing the cryptocurrency industry, having responded to ESMA's call for evidence on the review of the UCITS Eligible Assets Directive and for their Swiss domiciled staking products where they are reporting the staking rewards to the Federal Tax Administration.[11][12]
In 2025 they filed for exchange-traded funds in the U.S. for Solana and XRP.[13]
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Leadership
Until December 2024, founders Hany Rashwan and Ophelia Snyder were CEO and President respectively.[14] They remain co-chairs of 21.co, and announced a new operating structure separating into two business units: 21Shares and 21.co Technologies.[15] At this time, Russell Barlow joined 21Shares as CEO, and Duncan Moir joined as President.[14]
Reception
The company's research has been referenced by media companies regarding the cryptocurrency industry and the 2024 Presidential Election.[16][17]
Innovation.zuerich listed 21Shares as Switzerland's largest crypto unicorn, reaching a valuation of approximately $2 billion.[18]
References
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