21Shares, a leading provider of crypto exchange-traded funds (ETFs), has strengthened its US operations by appointing Federico Brokate, a seasoned ETF industry expert, as the Vice President, Head of US Business. This strategic move aims to enhance the company's growing US business, which currently manages over $3.2 billion in assets.

Brokate's Background and Expertise

Brokate brings a wealth of experience in ETF strategy, distribution, and product development from his previous role as the head of America's iShares Business Strategy at BlackRock. His extensive background in the ETF industry will undoubtedly contribute to 21Shares' growth and expansion in the US market.

Enhancing US Operations

The appointment of Brokate is expected to strengthen 21Shares' US operations, which currently offer six crypto-asset ETFs. The company's President, Ophelia Snyder, expressed her confidence in Brokate's ability to drive growth and innovation, stating that his contribution will be critical to their strategy and growth in the US.

Expansion and Innovation in Crypto-Asset ETFs

21Shares is actively expanding its services in the crypto-asset ETF market. Following the launch of five futures-based ETFs in November 2023 and its highly anticipated spot Bitcoin ETF in January 2024, the company is poised to continue growing its physically-backed crypto asset ETFs portfolio.

Brokate's Enthusiasm and Vision

Brokate is eager to join 21Shares, citing the company's focus on innovation and operational effectiveness. He expressed his honor at becoming the Head of US Business, noting that the company is at an exciting time in its return to its cryptocurrency origins.

21Shares Core Ethereum ETF

This strategic appointment comes at a timely moment, as the crypto-asset ETF market is rapidly evolving. The company's recent decision to rebrand its Ethereum fund from the Ark 21Shares Ethereum ETF to the 21Shares Core Ethereum ETF indicates its commitment to offering direct market access through new products. This move aligns with 21Shares' ambition to dominate the market for futures-based and spot crypto-asset ETFs.