Today Zodia Custody announced its latest digital asset custody client, 21shares, the asset manager with around $6 billion in crypto under management. Zodia Custody was founded by Standard Chartered and Northern Trust, with SBI and National Australia Bank as investors.
In April Zodia announced it signed another asset manager, Deutsche Bank’s DWS. While DWS is a big brand, it manages only around €10 million ($11m) in crypto so far. By contrast, the European and Swiss arms of 21 shares, which are part of this custody deal, are responsible for more than $3 billion.
The asset manager has no less than 40 exchange traded products (ETPs) in Europe. You’d expect the Bitcoin and Ethereum staking ETPs to be big, and they account for around $1.1 billion, but they don’t make up the majority. Some of the prominent second tier tokens have less ETP competition. Hence, the Binance BNB ETP has a capitalization of $572 million and the Solana staking ETP is $735 million.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
