21Shares COO Departs, CEO Hany Rashwan Reassures Firm Has Transition Plan

Source: Nasdaq / Instagram

Switzerland-based exchange traded product (ETP) firm 21Shares has confirmed its chief operating officer Lucy Reynolds, has left the firm.

Before joining 21Shares Reynolds was head of product management at WisdomTree and joined 21Shares in 2020 – Reynolds was unavailable for comment on her departure from the firm.

Hany Rashwan the CEO of 21Shares told Cryptonews.com there is no change in senior management or cause for concern and that Lucy’s departure was “ a mutual decision and has been in the works for at least six months so we’re just following the transition plan we designed together.”

At one point 21Shares reached $2 billion in assets under management with products listed on several European exchanges the provider continues to dominate the market. In March this year, 21Shares closed six of its crypto ETPs due to limited investor demand.

21Shares is collaborating with Cathie Wood’s Ark Invest and has a spot Bitcoin exchange-traded fund (ETF) application in the pipeline. The US Securities and Exchange Commission (SEC) has delayed deciding to approve a spot Bitcoin ETF and has been inundated with filings from approximately a dozen issuers, including BlackRock, Fidelity, and Invesco.

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