21.co company has announced the split into 21Shares and 21.co Technologies, allowing each part to develop independently in new crypto industry conditions.
Transition to a New Structure
Effective January 6, 2023, 21Shares, the issuer of crypto exchange-traded products, will operate independently from 21.co Technologies, which will focus on tokenized assets and risk management. Despite the separation, 21.co will remain the holding company for both structures.
Founders' Roles in Management
Co-founders Hany Rashwan and Ophelia Snyder will assume the roles of co-chairs of 21Shares. A transition period will see Rashwan becoming the CEO of 21.co Technologies and Snyder the president. They will retain their positions as CEO and president of 21.co, respectively.
21Shares Growth and Expansion
21Shares has seen significant growth over the past year. Expansion via spot Bitcoin and Ethereum ETFs has helped the company exceed $10 billion in assets under management. In the UK, physically-backed crypto exchange-traded notes have been launched, listed on the London Stock Exchange and across Europe.
The separation into 21Shares and 21.co Technologies opens new growth opportunities and adapts to the rapidly changing crypto environment.
