According to CoinDesk, Lucy Reynolds, the chief operating officer of Switzerland-based crypto exchange-traded product (ETP) firm 21Shares, has left the company. Reynolds previously served as head of product management at WisdomTree Europe and joined 21Shares in September 2020. A spokesperson for 21Shares expressed gratitude for her contributions and stated that the mutual decision had been in the works for over six months, with both parties collaborating on a transition plan.
In March, 21Shares closed six of its ETPs due to low demand. The company's website indicates that it still offers five funds in partnership with Cathie Woods' ARK Invest. Both ARK/21Shares and several other asset managers have applied for U.S. regulatory approval of a spot bitcoin ETF. Last year, the Switzerland-based firm raised $25 million in a funding round, valuing the company at $2 billion.