Crypto funding merchandise agency 21.co plans to separate its enterprise into two separate entities because it transitions to a new operating structure.
Effective Jan. 6, 21Shares, the crypto exchange-traded merchandise issuer, will function independently from 21.co Technologies, which is able to deal with tokenized belongings, threat administration, and different options within the crypto area. Despite this separation, 21.co will stay the holding firm for each entities.
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According to the corporate, the choice to have 21Shares and 21.co Technologies function as separate entities will permit it to arrange for what it sees as a new dispensation for the crypto and blockchain know-how trade.
While the core enterprise might be run in these two entities, 21.co will stay the holding firm for each.
Co-founders Hany Rashwan and Ophelia Snyder will assume titles of co-chairs of 21Shares. A transition interval will then see Rashwan take over as 21.co Technologies chief govt whereas Snyder turns into president. The two additionally stay, respectively, CEO and president of 21.co.
“This transition formalizes a structure we’ve been building toward over the past year, allowing each division to grow independently. With dedicated leadership in place for both asset management and technology, we’re setting up 21Shares and 21.co Technologies for even greater success.”
Hany Rashwan, co-founder of 21Shares.
In different roles, former abrdn international head of different and multi-asset investments Russell Barlow is about to affix 21Shares as CEO. 21.co has tapped Duncan Moir, additionally beforehand at abrdn, as president of 21Shares.
21Shares has seen important progress over the previous yr.
Expansion by way of spot Bitcoin (BTC) and Ethereum (ETH) ETFs has helped the corporate exceed $10 billion in belongings beneath administration.
As effectively as growth within the U.S., 21Shares has unveiled physically-backed crypto exchange-traded notes for traders within the U.Okay. The platform has ETNs listed on the London Stock Exchange and throughout Europe.
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