21.co announces plans for new operating structure

Crypto investment products company 21.co plans to split its business into two separate entities as it transitions to a new operating structure.

Effective January 6, 21Shares, a provider of products traded on crypto exchanges, will operate independently of 21.co Technologies, which will focus on tokenized assets, risk management and other solutions in the crypto space. Despite this separation, 21.co will continue to be the holding company of both parties.

According to the company, the decision for 21Shares and 21.co Technologies to operate as separate entities will allow the company to prepare for what it sees as a new distribution for the crypto and blockchain technology industry.

Although the main business will be carried out in these two organizations, 21.co will continue to be the holding company of both.

Co-founders Hany Rashwan and Ophelia Snyder will assume the title of co-presidents of 21Shares. Later, during a transition period, Rashwan will take over as chief executive of 21.co Technologies, while Snyder will become president. The two will also remain CEO and president, respectively, of 21.co.

“This transition formalizes the structure we have created over the past year and allows each division to grow independently. “With our dedicated leadership in both asset management and technology, we are building 21Shares and 21.co Technologies for even greater success.”

Hany Rashwan is the co-founder of 21Shares.

In other roles, former Abrdn global head of alternative and multi-asset investments Russell Barlow is set to join 21Shares as CEO. 21.co has appointed Duncan Moir, formerly of Abrdn, as president of 21Shares.

21Shares has seen significant growth in the past year.

Expansion through spot Bitcoin (BTC) and Ethereum (ETH) ETFs has helped the company surpass $10 billion in assets under management.

Alongside expansion in the US, 21Shares has also introduced bonds traded on physically backed crypto exchanges for investors in the UK. The platform includes ETNs listed on the London Stock Exchange and across Europe.