- 21Shares appoints Federico Brokate, former iShares strategist, as VP to expand its US crypto ETF offerings, enhancing its $3.2bn portfolio.
- The strategic hire comes amidst a period of substantial growth for 21Shares, including the launch of a spot Bitcoin ETF.
- Federico Brokate’s appointment is expected to bring a fresh perspective and bolster the firm’s market position.
21Shares fortifies its U.S. market presence with the appointment of Federico Brokate as VP, alongside key ETF launches.
Federico Brokate Joins 21Shares as VP of U.S. Business
21Shares US LLC has appointed Federico Brokate as Vice President, Head of U.S. Business, marking a significant milestone in the company’s growth strategy. Brokate’s extensive experience at BlackRock, where he led America’s iShares Business Strategy, is set to play a pivotal role in 21Shares’ expansion within the U.S. crypto ETF market.
Enhancing Market Reach and ETF Offerings
This strategic appointment comes as 21Shares looks to solidify its footprint in the U.S., which has shown increased interest in cryptocurrency investments. Federico Brokate’s proven track record in ETF distribution, product innovation, and market execution sets the stage for a robust growth trajectory. According to Ophelia Snyder, Co-Founder and President of 21Shares, Brokate’s expertise is invaluable for meeting the firm’s ambitious market goals.
Expansion and Innovation in Crypto-Asset ETFs
Aligned with its goal to expand its market presence, 21Shares recently launched its much-anticipated spot Bitcoin ETF in January 2024, following the success of five futures-based ETFs introduced in November 2023. This expansion underscores the company’s commitment to offering a diverse portfolio of physically-backed crypto asset ETFs, aligning with market demands and regulatory frameworks.
Strategic Rebranding and Product Development
In addition to key appointments, 21Shares continues to evolve its product lineup, including the rebranding of its Ethereum product to the 21Shares Core Ethereum ETF. This move is indicative of the company’s steadfast focus on delivering innovative and direct market access products. Amid these developments, the firm remains unfazed by ARK Invest’s decision to discontinue their partnership, signaling resilience and forward-thinking strategies.
Conclusion
21Shares’ strategic hires and product innovations position the firm for continued leadership in the U.S. crypto ETF market. With Federico Brokate now spearheading its U.S. operations, the company is well-equipped to navigate the evolving financial landscape, continually meeting investor demands with cutting-edge ETF offerings. As the market for crypto assets grows, 21Shares appears poised for sustained growth and success.
