21Shares, a cryptocurrency exchange-traded product (ETP) company based in Switzerland, acknowledged the departure of its chief operating officer in an email.Before joining 21Shares in September 2020, Lucy Reynolds served as head of product management at WisdomTree Europe, where she was a member of the executive team.
“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.”
Due to poor demand, 21Shares closed six of its ETPs in March.The company website states that it continues to provide five funds in partnership with Cathie Woods’ ARK Invest. ARK/21Shares is one of several asset managers that have submitted applications for regulatory permission in the United States for a spot bitcoin exchange-traded fund.
The Switzerland-based company was valued at $2 billion after raising $25 million in a fundraising round the previous year.