21.co Announces Plans for New Operating Structure; 21Shares and 21.co Technologies to Become Separate Entities
04 December 2024 - 12:15AM
21Shares will welcome a new suite of executives
to drive growth for the firm
Co-Founders Hany Rashwan and Ophelia Snyder will
become co-chairs of 21Shares, while dedicating their executive time
and attention to 21.co Technologies
ZURICH, 3 December 2024 – 21.co today announced
the company’s new operating structure to prepare for a new phase of
growth in digital assets and blockchain technology. 21.co’s
operating structure will transition from one fully integrated
business to two, separated core business units – 21Shares and 21.co
Technologies. 21.co remains the Holding Company of both 21Shares
and 21.co Technologies.
The separation of 21Shares and 21.co Technologies allows each
entity to focus on its strengths and to more easily meet their
individual business goals. 21Shares will remain laser focused on
asset management and bringing the most relevant and high quality
ETPs to market. In addition, 21Shares will be better able to
capitalize on investor interest worldwide in an increasingly
favorable regulatory environment, paving the way for significant
opportunity across retail, professional and institutional
investors. 21.co Technologies will focus on developing
next-generation products and tools, such as tokenized assets, smart
contracts and risk management, offering on-chain solutions tailored
to institutional clients.
As a part of this change, effective 6 January 2025:
- Co-Founders Hany
Rashwan and Ophelia Snyder will become
co-chairs of 21Shares and, following a reasonable transition
period, will dedicate their executive time and attention to 21.co
Technologies as the CEO and President of that entity, respectively.
In addition, Hany and Ophelia will remain CEO and President,
respectively, of 21.co, the Holding Company of 21Shares and 21.co
Technologies.
- Russell Barlow will
join 21Shares as Chief Executive Officer, overseeing the asset
management and ETP business worldwide and reporting directly to
Co-Chairs Hany Rashwan and Ophelia Snyder. Previously Global Head
of Alternative and Multi-Asset Investments at abrdn, and
responsible for more than $200bn in assets, Russell brings 25 years
of experience in regulated asset management.
- Duncan Moir will join as President of
21Shares. Previously at abrdn where he led the company’s crypto and
blockchain strategy, Moir brings a deep understanding of the crypto
space and experience in working with institutional investors.
- Further, Edel Bashir will take on the role of
COO of 21Shares, bringing with her a deep expertise in managing
complex operations. Previously, Edel was COO for Alternative and
Multi-Asset Investments at abrdn, focused on streamlining
operations and improving efficiency.
- To round out the 21Shares executive
team, Andres Valencia a longstanding member of
21Shares, will become Executive Vice President of Investment
Management. Andres has been instrumental in managing and expanding
21Shares’ ETP offerings, drawing on his deep understanding of
trading operations and fund management to support growth in a
fast-evolving market.
“This transition formalizes a structure we’ve been building
toward over the past year, allowing each division to grow
independently,” said Hany Rashwan, co-founder of 21Shares. “With
dedicated leadership in place for both asset management and
technology, we’re setting up 21Shares and 21.co Technologies for
even greater success.”
“21Shares has always been about pushing boundaries and creating
innovative ways to make digital assets accessible to a global
audience,” said Ophelia Snyder, co-founder of 21Shares. “This
realignment allows us to dedicate even more energy to advancing
next-generation products like tokenization, on-chain solutions, and
tools that bridge the gap between traditional finance and
blockchain. We’re excited to see 21Shares build on its strong
foundation while we focus on driving innovation at 21.co
Technologies to shape the future of the crypto ecosystem.”
21Shares is one of the world’s first and largest crypto-native
issuers of ETPs and has rapidly grown into an industry leader
setting the standard for digital assts research, product innovation
and education. After a year of incredible growth, 21Shares is
thrilled to have crossed $10 billion in assets under management
(AUM) globally. Most recently, the firm set its sights on expansion
in the U.S. market, driving essential growth with the 2024 launches
of its spot Bitcoin and spot Ethereum ETPs. In addition, 21Shares
entered the UK market in May 2024 with the listing of four
physically-backed crypto exchange traded notes (ETNs) on London
Stock Exchange. Further, 21Shares has launched 11 new crypto
products across Europe in 2024.
21.co Technologies will remain entrepreneurial, innovative, and
focused on new product development, especially in areas like
embedded risk management, tokenized assets, and data solutions for
the crypto space.
Press Contact
Audrey Belloff, Head of Global Communications,
audrey.belloff@21.co
About 21Shares
21Shares is one of the world’s first and largest issuers of
crypto exchange traded products. We were founded to make
cryptocurrency more accessible to investors, and to bridge the gap
between traditional finance and decentralized finance. In 2018,
21Shares listed the world’s first physically-backed crypto ETP, and
we have a six-year track-record of creating crypto exchange-traded
funds that are listed on some of the biggest, most-liquid
securities exchanges globally. In addition to our six-year track
record, 21Shares offers investors best-in-class research and
unparalleled client service.
21Shares is a member of 21.co, a global leader in decentralized
finance. For more information, please visit www.21Shares.com.
About 21.co Technologies
21.co Technologies builds innovative products and tech solutions
centered around embedded risk management, tokenized assets, and
data solutions for the crypto space. The company was founded in
2021 by Hany Rashwan and Ophelia Snyder.
21.co Technologies is a member of 21.co, a global leader in
decentralized finance. For more information, please visit
www.21.co.
Important Information
The information provided does not constitute a prospectus or
other offering material and does not contain or constitute an offer
to sell or a solicitation of any offer to buy securities or
financial instruments in any jurisdiction, including the U.S. Some
of the information published herein may contain forward-looking
statements and readers are cautioned that any such forward looking
statements are not guarantees of future performance, involve risks
and uncertainties, and actual results may differ. Additionally,
there is no guarantee as to the accuracy, completeness, timeliness
or availability of the information provided and 21.co and its
affiliated entities are not responsible for any errors or
omissions. The information contained herein may not be considered
as economic, legal, tax or other advice and viewers are cautioned
not to base investment or any other decisions on the content
hereof.
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