A Switzerland-based firm that claims to be Europe’s first issuer of on-exchange investments linked to cryptocurrencies, said it has hit the $100m-under-management mark amid a summer boost in trading.

21Shares, which launched its crypto-based exchange-traded products in late 2018, announced the milestone in an email on 14 August. CEO Hany Rashwan said: “Now that the important $100m mark is met, we can focus on our next target: $1bn!”