Switzerland-based crypto exchange-traded product (ETP) firm 21Shares, has confirmed the departure of its Chief Operating Officer, Lucy Reynolds. Reynolds has played a significant role in the company since September 2020. Her previous experience includes a leadership position at WisdomTree Europe, where she was the head of product management.

The company spokesperson stated that Reynolds’s departure was a mutual decision planned over the past six months. 21Shares has been working collaboratively on a transition plan to ensure a smooth change in leadership. The firm acknowledges Reynolds’s pivotal contributions and expresses gratitude for her role in its development.

Despite the recent closure of six of its ETPs in March due to low demand, 21Shares continues to offer five funds in partnership with Cathie Woods’ ARK Invest. The company remains active in the crypto and blockchain and is among several asset managers seeking U.S. regulatory approval for a spot bitcoin ETF. This leadership change comes when 21Shares navigate a dynamic and evolving cryptocurrency market. The firm is poised to continue its growth trajectory and innovation in the crypto ETP.

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