21Shares appoints new VP key to BlackRock's crypto ETF approval

21Shares US LLC today announced Federico Brokate as the new VP, Head of US Business. According to Bloomberg ETF analyst Eric Balchunas, Brokate was instrumental in bringing BlackRock’s crypto ETFs IBIT and ETHA to market. “Big-time hire by 21Shares, byproduct of their recent growth,” added Balchunas.

According to the announcement, Brokate’s appointment aligns with 21Shares’ US growth, now boasting six crypto-asset ETFs, $3.2 billion in assets, and nearly 50 employees. Ophelia Snyder, Co-Founder and President of 21Shares, expressed excitement about the company’s US trajectory and Brokate’s anticipated contribution.

“Federico brings to 21Shares years of ETF industry experience across strategy, distribution, and product. We’re extremely excited by the growth trajectory of our US business, and Federico’s expertise will be essential to our strategy and continued success in the US market,” Snyder stated.

The ARK 21Shares Bitcoin ETF (ARKB) currently holds over $3 billion in Bitcoins (BTC) under management, equivalent to 46,660 BTC, according to on-chain data platform Arkham Intelligence. The company is responsible for other 39 exchange-traded products related to crypto.

“I’m thrilled to be joining 21Shares as Head of the U.S. Business at such a transformative time for the crypto-asset ETF market. I have long admired the 21Shares team for their commitment to innovation, operational excellence, and making crypto investments accessible to all,” said Brokate.