The CEO of Ark Invest, Cathie Wood, has joined the board of crypto company Amun Holdings, per a report published by Bloomberg yesterday.
Wood joined the company after personally investing in 21Shares AG operators which specializes in exchange-traded products (ETPs).
What is ETP?
ETPs track the price of certain financial assets. They are traded like shares and ETFs. ETPs are the main asset class that group CEFs, ETNs, and more.
“21Shares is forging a new path for crypto ETPs by leading with research and a keen understanding of this developing asset class,” Wood said, adding, “I am thrilled to support its efforts.”
What is Amun Holdings?
Amun Holdings is a crypto company and ETPs provider based in Switzerland.
The company has $2B Assets under management (AUM). Last march the crypto startup had only $28M according to the CEO Hany Rashwan.
The revenue for 2020 is $40M and among the customers are institutions and retail investors.
“We built the company to make crypto as accessible as stocks and have seen tremendous demand for our products,” Rashwan said.
One of the main products of the company is 21 Shares Short Bitcoin ETP. It is a basket of 5 cryptocurrencies where Bitcoin has a leading position. The other currencies are Ethereum, Polkadot, Steller, Cosmos.
Amun and 21Shares products are listed on exchanges in Switzerland, Austria, and Germany. Till now the company is working only in EU but it plans to expand through this barrier very soon.
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