With $10 billion in assets under management (AuM), Swiss unicorn 21Shares is one of the largest crypto product providers in Europe. The parent company, 21.co, is now reorganizing to prepare for the next phase of growth in the digital asset sector.
As part of the restructuring, the holding company will move from a fully integrated business model to two independent core business units: 21Shares and 21.co Technologies, according to a press release. 21.co will remain the umbrella organization for both units. The move is designed to increase efficiency and unlock the full potential of both businesses.
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Restructuring of crypto ETP issuer
The separation of 21Shares and 21.co Technologies will allow both companies to focus on their respective strengths and pursue their specific business objectives more efficiently. 21Shares will continue to focus on asset management by launching relevant and innovative ETPs in Europe and the US. This will enable the company to better capitalize on growing global investor interest in a more favorable regulatory environment, creating new opportunities for retail, professional and institutional investors.
21.co Technologies, on the other hand, will focus exclusively on developing cutting-edge products and technologies, including tokenized assets, smart contracts and advanced risk management solutions. The company will also develop on-chain solutions specifically designed for institutional clients. The company's founders, Hany Rashwan and Ophelia Snyder, will serve as board members of 21Shares AG and, after a transition period, will assume the roles of CEO and President of 21.co Technologies, respectively. Both founders will also remain CEO and President of 21.co, the holding company for 21Shares and 21.co Technologies.
"This realignment allows us to focus even more energy on developing the next generation of products, such as tokenization, on-chain solutions, and tools that can bridge traditional finance with blockchain. We are confident that 21Shares will continue to grow on its solid foundation, while 21.co Technologies focuses on driving innovation and shaping the future of the crypto ecosystem." - Ophelia Snyder, Co-Founder of 21Shares
Notable leadership changes
As part of the restructuring, several experienced industry leaders are joining 21Shares. Russell Barlow becomes the new Chief Executive Officer of 21Shares, overseeing the global asset management and ETP businesses. In this role, he will report directly to the Co-Chairs, Hany Rashwan and Ophelia Snyder. Previously, Russell Barlow was Global Head of Alternative and Multi-Asset Investments at abrdn, where he managed more than $250 billion in assets.
Duncan Moir has been appointed President of 21Shares. He previously led the firm's crypto and blockchain strategy at ABRDN. With his extensive knowledge of the crypto market and experience working with institutional investors, Moir is expected to play a key role in driving 21Shares forward. Edel Bashir joins 21Shares as Chief Operating Officer (COO), bringing significant expertise in managing complex operational processes. Previously, Bashir served as COO for alternative and multi-asset investments at abrdn, where she focused on optimizing operations and improving efficiency.
Rounding out the 21Shares leadership team, Andres Valencia, a long-time member of the 21Shares team, will assume the role of Executive Vice President of Investment Management. Andres has been instrumental in growing and managing 21Shares' ETP portfolio. With his extensive experience in trading operations and fund management, he will support the company's growth in a dynamic market environment.
