21Shares selects Sudrania Fund Services for Administration of its Digital Asset ETPs
October 20, 2020
Source: Sudrania | October 20, 2020 – 21Shares has selected Sudrania Fund Services (“Sudrania”) to provide fund and portfolio accounting services for their Digital Asset ETPs products on the SIX Swiss Exchange.
Sudrania Fund Services will provide 21Shares with daily net asset value (NAV) to their ETPs as well as additional reporting and data management via its Seamless Crypto TM proprietary software. The services include daily calculation of NAV of ETPs, performance calculation, and account maintenance. Also, Sudrania delivers a comprehensive portfolio reporting solution to enable 21Shares to enhance its performance and risk management functions.
21Shares, the Swiss pioneering issuer of Exchange Traded Products (ETPs) is paving the way in making digital assets as easy as buying shares using conventional brokers or banks. Investors can purchase the 21Shares set of crypto ETPs easily, safely and in complete confidence on regulated stock exchanges such as Deutsche Boerse XETRA, the SIX Swiss Exchange and Vienna Exchange in USD, EUR, GBP and CHF. The company has launched a full suite of ETPs such as the crypto basket HODL and the Bitcoin ETP over the past two year.
“We chose Sudrania Fund Services not only for their highly experienced team but also for the efficient processes, modern cloud-based technology in handling large, complex and time-sensitive workflow of ETPs on a daily basis,” said Ophelia Snyder, President & Chief Product Officer of 21Shares. “We engineered a full set of crypto ETPs using crypto indices that track both single and baskets of crypto currencies. Delivering on high quality processes, Sudrania is able to adapt to our needs in a very responsive manner sharing our vision for driving innovation and growth using technology, infrastructure, and talent. Sudrania has shown an equal drive in transforming the market for fund services promoting their innovative solution and customer-success mindset.”
Manish Agrawal, Co-Founder of Sudrania Fund Services is excited to be working with 21Shares. “21Shares is led by a team of experienced and energetic professionals and has been leading the industry efforts to simplify access to digital assets and cryptocurrencies. 21Shares evaluated our processes and technology rigorously in their efforts to select scalable and institutional technology and professional services solution for the administration of their ETPs.” says Mr. Agrawal.
Sudrania developed its comprehensive Seamless Crypto TM software (a module of its Seamless Solution TM) to give investment managers in digital assets space a robust and scalable solution purposely built keeping digital assets in mind along with integrations with numerous exchanges, custodians, and bank. Seamless Crypto TM is a single database solution for portfolio analytics, fund accounting, NAV calculations, investor allocations, and fee calculations, for digital asset funds. Seamless Solution TM modules are offered via cloud deployment with auto-scaling features for a cost-efficient, streamlined, and smooth operational workflow.
About Sudrania Fund Services
Founded in 2016 and headquartered in Chicago, Sudrania Fund Services is home to a 250+ person global workforce. With over 200 clients spanning the entire spectrum of the investment management industry, we have established ourselves as a proven alternative to legacy fund administration solutions.
Sudrania’s proprietary technology, Seamless, is a next-generation cloud-based platform that simplifies the back office by automating manual tasks, ultimately reducing manual errors, and improving cost efficiencies. Developed by accomplished industry veterans, Seamless can handle any fund structure and asset class, as well as multiple currencies. We deliver unparalleled customer service and have optimized our offerings to make investing easy for you and your investors, from straightforward pricing and easy onboarding to daily accounting and inquiries. Your success is our success, and we are dedicated to helping you build a successful business on the backbone of innovative technology.
Sudrania’s offices are located at 633 Rogers St, Suite 106, Downers Grove, IL 60515. For more information about Sudrania’s Seamless Solution TM , please visit https://sudrania.com/technology.html
About 21Shares
21Shares makes investing in crypto assets as easy as buying shares using your conventional broker or bank. Investors can invest in cryptocurrencies using a conventional ETP structure (or tracker) easily, with total confidence and security, cost effectively thanks to the 21Shares suite of ETPs launched by 21Shares and now composed of 11 Crypto ETPs : the 21Shares Crypto Basket Index ETP (HODL:SW), 21Shares Bitcoin (ABTC:SW), 21Shares Ethereum (AETH:SW), 21Shares XRP (AXRP:SW), 21Shares Bitcoin Cash ETP (ABCH:SW), 21Shares Binance ETP (ABNB:SW), 21Shares Tezos ETP (AXTZ:SW), 21shares Bitcoin Suisse ETP (ABBA:SW), 21Shares Bitwise 10 ETP (KEYS:SW), Sygnum Platform Winners Index ETP (MOON:SW) and 21Shares Short Bitcoin ETP (SBTC:SW). The entire suite is listed on a regulated framework on the official market of Deutsche Boerse, SIX Swiss Exchange, BX Swiss and some on Boerse Stuttgart in CHF, USD, GBP and EUR respectively. Founded in 2018, 21Shares is led by a team of talented serial entrepreneurs and experienced banking professionals from the technology and financial world. Incorporated in Zug, with offices in Zurich, Berlin and New York, the company has launched several world firsts, including the first listed crypto index (HODL) in November 2018. 21Shares has 11 crypto ETPs listed today and has over $100 million in AuM in total listed.