21.co restructures its operational framework, with 21Shares and 21.co Technologies operating independently

according to GlobeNewswire, digital asset management company 21.co announced a restructuring of its operational framework, splitting its original business into two independent entities: 21Shares and 21.co Technologies. 21.co will continue to serve as the holding company for both entities. The new structure will take effect on January 6, 2025.

After the restructuring, co-founders Hany Rashwan and Ophelia Snyder will serve as co-chairs of 21Shares and will focus their efforts on 21.co Technologies, serving as CEO and President, respectively. Former abrdn Global Head of Alternatives and Multi-Asset Investing Russell Barlow will take on the role of CEO of 21Shares, managing over $20 billion in assets.

21Shares will focus on asset management and ETP business, while 21.co Technologies will be dedicated to developing next-generation products such as tokenized assets, smart contracts, and risk management. This business restructuring aims to respond to a new wave of growth in the digital asset industry, allowing both entities to better achieve their respective business objectives.