21Shares COO Departs from Crypto ETP Provider

• Crypto ETP firm 21Shares announces departure of COO
• Impact on 21Shares
• 21Shares' Recent Developments
• 21Shares' Valuation and Future Prospects

Crypto ETP firm 21Shares announces departure of COO

The Switzerland-based crypto exchange-traded product (ETP) company 21Shares has officially confirmed the departure of its Chief Operating Officer (COO), Lucy Reynolds. Prior to joining 21Shares in September 2020, Reynolds served as the head of product management at WisdomTree Europe and was an integral part of its leadership team.

Impact on 21Shares

Throughout her tenure at 21Shares, Reynolds has significantly influenced the company's growth and evolution. The company expressed gratitude for her contributions and confirmed that this decision had been under consideration for over half a year. Both parties worked collaboratively on the succession plan to ensure a smooth transition.

21Shares' Recent Developments

In March, due to a dip in demand, 21Shares discontinued six of its ETPs. However, the company's website indicates that it still manages five funds in partnership with Cathie Woods' ARK Invest. In addition, 21Shares, in conjunction with ARK, is one of the many asset managers that have submitted applications seeking U.S. regulatory approval for a spot bitcoin ETF.

21Shares' Valuation and Future Prospects

In a funding round last year, 21Shares successfully raised $25 million, pushing its valuation to an impressive $2 billion. The recent developments at the firm highlight its commitment to maintaining its trajectory of growth and innovation in the crypto sector.

Edited by Jonathan Stoker