Brazilian Cryptoasset Manager Poaches Exec To Lead European Expansion

The firm seeks to replicate its success in Brazil and create products beyond single-asset offerings

article-image

Hashdex’s Laurent Kssis | Source: Hashdex

share

key takeaways

  • Laurent Kssis, the firm’s new head of Europe, says launching thematic products that offer exposure to the broader crypto market is a major focus
  • The hire follows Hashdex’s launch of a DeFi ETF and the approval of an upcoming Web3 offering

Hashdex has poached an executive from competitor 21Shares as the Brazilian cryptoasset manager looks to extend its presence in Europe.

Laurent Kssis, who will serve as a managing director and head of Europe, has joined the ETF issuer in the midst of its product expansion. 

Hashdex, which surpassed $1 billion in assets under management last year, launched the world’s first crypto index ETF, the Hashdex Nasdaq Crypto Index ETF, in February 2021.

The firm earlier this month moved to bring a Web3-focused ETF to the Brazilian stock exchange B3. Set to begin trading March 30 under the ticker WEB311, the product seeks to replicate the CF Web 3.0 Smart Contract Platforms Index.

The launch of WEB311 will follow Hashdex’s launch of its DeFi ETF (DEFI11), also in Brazil.

Now, Hashdex seeks to replicate its success in Brazil within the European market, Kssis said. The company plans to create ETPs (exchange-traded products) in Switzerland, where it is already established, he added, before launching such offerings across Europe.

“As we build and launch products, we will continue to target innovative investors and help provide them with the exposure they want but are not currently able to capture,” Kssis told Blockworks in an email. “In addition, we will focus on leveraging our research capabilities to further educate the marketplace on crypto innovation and investing.”

Hashdex is looking to differentiate from competitors by focusing on thematic products that offer exposure to the crypto market, rather than individual assets “without much flexibility or diversification,” Kssis noted.

Kssis was formerly a managing director and the global head of ETPs at Swiss issuer 21Shares, which offers nearly two-dozen single-asset ETPs. 21Shares CEO Hany Rashwan told Blockworks last month the firm aims to support what it considers to be the top 50 cryptocurrencies by the end of this year.

“I have historically been focused on single assets products, but what Hashdex specializes in is baskets of crypto assets, providing exposure in a safe and simple way,” Kssis said. “Given the evolution of what institutional investors are demanding, we’re fully aligned on how to structure products and help investors capture broad exposure to the market.”

Before 21Shares, Kssis was CEO of Swedish crypto issuer XBT Provider AB, which CoinShares acquired in 2017. There, he oversaw the first European Ether ETP listing, which raised $400 million within weeks of launch.

Hashdex CEO Marcelo Sampaio said in a statement that Kssis’ background — particularly in Switzerland, which he called “the leading venue for listing crypto ETPs” — will help the company accelerate its international reach. 

The number of ETPs trading in Europe continues to grow, while the US Securities and Exchange Commission continues to decline approval for such offerings.

The addition of Kssis is the latest in a string of recent Hashdex hires.

The company in December added Matthew Flood as its head of US business development and Jack Song as the country’s head of corporate communications and chief of staff. The firm said at the time that it planned to leverage its exclusive partnerships with Nasdaq and Victory Capital as part of its US expansion and expects to launch US products soon.

Hashdex more recently hired Nicole Dyskant as its global head of legal and compliance.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

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 graphics (1).jpg

Research

In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.

article-image

BUZZ holds shares of Coinbase, Robinhood and MicroStrategy

article-image

Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile

article-image

The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally

article-image

While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders

article-image

Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume

article-image

DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit