Crypto ETP Provider 21Shares Loses COO

The chief operating officer of Switzerland-based crypto exchange-traded product (ETP) firm 21Shares has left the firm, the company confirmed in an email to CoinDesk.

Lucy Reynolds previously had been head of product management at WisdomTree Europe, where she was part of the leadership team prior to joining 21Shares in September 2020.

“She has played a pivotal role in the evolution of our company and we are grateful for her contributions,” said a spokesperson for 21Shares in an email to CoinDesk. “This mutual decision has been in the works for over 6 months, and we have been collaborating together on the transition plan.”

21Shares shut six of its ETPs in March due to low demand. According to the company website, it still has five funds it offers in conjunction with Cathie Woods’ ARK Invest. ARK/21Shares are also among many asset managers who have applied for U.S. regulatory approval of a spot bitcoin ETF.

The Switzerland-based firm last year raised $25 million in a funding round that gave it a valuation of $2 billion.

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