18 Aug 2020 Anthony Lehrman
Huge Leap In Crypto Funds` Recognition During 2020
Аsset management company 21Shares, formerly known as Amun, reported major growth in 2020, with over $100 million in crypto assets under management, as of press time. Тhe company marks a 164% increase in volume since the beginning of the year, starting 2020 with only $39 million assets under management.
Hany Rashwan, CEO of 21Shares commented on the volume spikes, stating that the surge in the assets under management (AUM) value comes amid the crypto sector increasing in total market capitalization, and an increase of interest for crypto products in Switzerland.
“From the start of the year, AUM is up around 164%. In just the last month and a half, trading is up over 20x more than its usual levels. This indicates a lot of new buyers, not just an increase in crypto prices,” Rashwan added.
Apart from 21Shares, Grayscale Investments that functions as the asset manager behind the largest Bitcoin investment trust, announced that the company now expands its range of crypto-related trusts with Bitcoin Cash (BCHG) and Litecoin (LTCN) trusts. The trusts are currently eligible for over-the-counter public trading, joining Ethereum Trust (ETHE), Ethereum Classic Trust (ETCG), and Digital Large Cap Fund (GDLC). The expansion comes after Grayscale’s Bitcoin trust grew by $1.6 billion in the first half of 2020. Current data about trusts shows that investors have already purchased 6,028,000 BCHG and 2,500,800 LTCN shares.
Moreover, the two new funds are also listed on the Depository Trust Company (DTC), which is the largest securities depository in the world, holding over $54 trillion worth of securities. By meeting the requirements to join the DTC listing, Grayscale also met the requirements for listing at some of the largest stock exchanges like the NASDAQ and New York Stock Exchange (NYSE).
Meanwhile, Pantera Capital’s Venture Fund III, launched under Regulation D rules in July 2018, аnd managed to raise $164.7 million from less than 200 investors. The San-Francisco based company revealed the amount with a Form D filing with the U.S. SEC. In the two-year lifespan of the open call for investors, Pantera Capital’s fund secured over $71 million until July 2019, topped up with $91 million from July 2019 to July 2020, when the company filed for legal closure of the fund. The raised amount, however, is still below the initial goal of $175 million.
Pantera Capital brought attention to itself with key investments in projects like BitGo, Bakkt, Ampleforth, Circle, and Abra. The VC company also invested in several ICO projects, including Filecoin, Celer and Ankr.Bitcoin Ethereum Litecoin Bitcoin Cash Cryptocurrency SEC Crypto Market Circle crypto Ethereum Classic cryptocurrency news finances SEC Security and Exchange Commission USA Financial institution BitGo Hedge Fund Pantera Capital