Home Crypto Cathie Wood Joins Amun Crypto Technology Firm's Board

Cathie Wood Joins Amun Crypto Technology Firm’s Board

Cathie Wood, a high wall road investor and founder and CEO of ARK Investment administration agency, has joined the board of European crypto know-how agency Amun Holdings after personally investing within the firm owned by 12Shares AG, the issuer of crypto exchange-traded merchandise based mostly in Switzerland.

21Shares AG is the supplier of exchange-traded merchandise (ETP) tied to the cryptocurrency market in Switzerland, thus making investing in cryptocurrencies as simple as shopping for shares utilizing standard brokers or banks. 

Wood talked about her becoming a member of the board of Amun Holdings: “I’m thrilled to help its efforts. 21Shares is forging a brand new path for crypto ETPs by main with analysis and a eager understanding of this creating asset class.”

21Shares and Amun merchandise are listed on nationwide exchanges in Switzerland, Germany, and Austria, amongst different areas.

Amun, which relies in Zurich (the capital metropolis in Switzerland), goals to faucet Wood’s experience to broaden 21Shares globally. The crypto agency, which earns between $40 million to $50 million per yr, goals to reinforce retail and institutional accessibility of cryptocurrencies, Amun’s CEO Hany Rashwan stated.

Rashwan additional revealed that Amun plans to record its first non-Europeans product inside the coming months.

The firm’s 21Shares Short Bitcoin ETP permits traders to wager in opposition to Bitcoin and its 21Shares crypto basket index tracks costs of the main 5 crypto belongings by market worth.  

Crypto As a Big Business Opportunity

The transfer made by Cathie Wood demonstrates how extra institutional traders are working to seize the expansion of the crypto market. Wood’s funds are vastly concerned within the crypto house.

Wood lately made headlines when she invested a complete of $246 million of Coinbase shares on April 15, the day when Coinbase Global went public after which purchased one other a million Coinbase shares value $580 million the next day. Two months earlier, ARK Invest bought 7 million shares of Grayscale Bitcoin Trust.

Several corporations are more and more adopting cryptocurrency, both by supporting funds and switch or really buying the belongings.

Forward-thinking corporations like Square and Tesla see worth in mixing crypto belongings into their enterprise fashions. Tesla converted a part of its steadiness sheet money into Bitcoin earlier this yr. Goldman Sachs has introduced a brand new crypto buying and selling desk and UBS Group, the most important funding financial institution in Switzerland is in talks to supply crypto investments to its rich purchasers.

Image supply: Shutterstock

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