As a seasoned researcher with a keen interest in the evolving world of cryptocurrency and blockchain technology, I find the recent announcement by 21.co to be an intriguing development. The decision to split its business into two separate entities, each focusing on distinct aspects of the crypto space, reflects a strategic move towards preparing for what seems to be a new era in this dynamic industry.
As an analyst, I’m sharing that 21.co, a company specializing in crypto investment products, intends to restructure its operations by dividing its business into two distinct entities. This strategic move is aimed at facilitating a seamless transition into a more efficient and focused operational model.
Starting January 6th, I, as a researcher, will be observing a change in the operational structure: 21Shares, the issuer of crypto exchange-traded products, will now function independently from 21.co Technologies. However, it’s important to note that 21.co will continue to serve as the holding company for both entities. Moving forward, 21.co Technologies will be dedicating its efforts towards tokenized assets, risk management, and other innovative solutions within the crypto sphere.
As reported by the company, operating 21Shares and 21.co Technologies independently is their strategy to ready themselves for what they anticipate as a fresh era in the cryptocurrency and blockchain tech sector.
In these two entities, the main operations will take place, but 21.co will continue to serve as the parent company for both of them.
21Shares’ co-founders Hany Rashwan and Ophelia Snyder will step into roles as co-chairs. During a transitional phase, Rashwan will ascend to the position of CEO at 21.co Technologies, while Snyder assumes the role of president. Meanwhile, they will continue serving as CEO and president, respectively, within 21.co.
This change solidifies a framework we’ve been developing over the course of the last year, enabling each division to expand autonomously. With specific leadership established for asset management and technology, we are preparing 21Shares and 21.co Technologies for even more prosperity.
Hany Rashwan, co-founder of 21Shares.
Previously serving as the global head of alternative and multi-asset investments at abrdn, Russell Barlow is poised to take on the role of CEO at 21Shares. Meanwhile, 21.co has appointed Duncan Moir, another former abrdn employee, as the president of 21Shares.
21Shares has seen significant growth over the past year.
The growth of our business, driven by investment in Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs), has surpassed the milestone of managing over $10 billion in assets.
21Shares, in addition to its growth in the United States, is now offering physically-backed cryptocurrency exchange-traded notes (ETNs) to investors in the U.K. These ETNs are listed on the London Stock Exchange and various exchanges throughout Europe.
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2024-12-03 18:52