21Shares Adds Execs as Part of Global Expansion

The ETP issuer’s latest hires include head of Middle East as crypto firms continue flocking to Dubai

article-image

21Shares’ Sherif El-Haddad | Source: 21Shares

share

key takeaways

  • Dubai’s crypto-friendly frameworks and young entrepreneurs makes it an exciting region to expand, 21Shares exec says
  • Firm’s other new hires previously worked at Barclays and JPMorgan

Crypto ETP issuer 21Shares has brought aboard several executives tasked with helping the company grow in various European countries and expand to the Middle East. 

Sherif El-Haddad, to be based in Dubai, will lead the firm’s expansion in the Middle East by introducing retail and institutional investors to the asset class while maintaining compliance with regional regulatory requirements. 

Before joining Switzerland-based 21Shares, El-Haddad was head of asset management at Al Mal Capital. Prior to that, he was the managing partner of Pearl Capital Management and led the asset management division of EFG Hermes for 13 years.

Isabell Moessler, 21Shares’ head of distribution for Europe, the Middle East and Africa, told Blockworks in an email that the firm is looking to provide all investors a way to buy, sell and short crypto through existing bank and brokerage accounts.

“Dubai’s supportive environment for crypto, paired with the city’s ability to attract young entrepreneurs who are passionate about new financial opportunities, is what excites us in beginning our entrance into the Middle East,” Moessler said.

“Broadly, the UAE is already laying the foundation for crypto regulatory infrastructure and its overlaying ecosystems, making the region all the more appealing for crypto exchanges and companies to be a part of,” she added.

Dubai revealed its first cryptocurrency legislation in March, and the emirate granted virtual asset licenses to FTX and Binance that month. Kraken also revealed plans to expand to the UAE in April, but opted for neighboring emirate Abu Dhabi.

Crypto.com and Hong Kong-based crypto custodian Hex Trust gained regulatory approval to conduct business in the region in June, and exchange OKX and Komainu gained regulatory approval to operate in Dubai last month. 

21Shares also revealed that Marina Baudéan joins the company as its head of France, Belgium and Luxembourg. She spent more than 15 years at Barclays, where she developed the bank’s cross-asset electronic trading platform, BARX, and more recently led the electronic rates distribution team in Europe, the Middle East and Africa. 

Oliver Schäfer, who previously worked at JPMorgan Asset Management for 15 years, according to his LinkedIn profile, will be the ETP (exchange-traded product) issuer’s head of Germany.

Schäfer replaces Marco Infuso, who left 21Shares to lead global sales at competing firm Valour. Former 21Shares product manager Elaine Bühler and Peter Märkl, previously 21Shares’ head of legal, also jumped ship to Valour in recent weeks. 

The hires and expansion plans come after 21Shares expanded its presence in Australia in April by offering the continent’s first products to invest directly in bitcoin and ether. The firm more recently introduced a so-called crypto winter product suite, expanding it last month to include risk-controlled bitcoin and ether index ETPs.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg

Research

The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.

article-image

Partnering with EtherFi and Angle, the fully on-chain perp DEX features bespoke collateral

article-image

Sponsored

Gavin Wood introduced the next evolutionary step for the Polkadot network: the Join-Accumulate Machine, or JAM

article-image

The side events were the places to be at Consensus 2024, according to attendees

article-image

Also, who’s come out swinging in the spot ether ETF fee war — and who could undercut them

article-image

I know it is not in their nature, but US regulators could learn a lot by researching the digital asset frameworks that overseas regulators have already gotten right

article-image

Also, the ETF hype train can count out at least one member