21Shares Taps ex-BlackRock Exec Federico Brokate to Lead US Crypto ETF Expansion

21Shares, a leading issuer of crypto exchange traded funds (ETFs), has appointed Federico Brokate as VP, head of US business, marking a significant move in its strategy to strengthen its position in the US market for crypto-asset ETFs, the firm said in an announcement on Tuesday.

Brokate brings extensive experience to 21Shares, having previously served as director of America’s iShares business strategy at BlackRock. His tenure at BlackRock, which lasted almost 8 years, included developing and executing global business strategies across diverse client segments and product lines. Notably, he led the successful launch strategy for iShares’ Bitcoin ETF, IBIT, demonstrating his proficiency in navigating both traditional finance and emerging crypto markets.

Ophelia Snyder, co-founder and president of 21Shares, expressed enthusiasm about Brokate's appointment, highlighting his strategic vision and deep industry knowledge. She emphasized his role in advancing 21Shares’ US business amidst surging interest in crypto-asset investments.

Brokate himself expressed enthusiasm about joining 21Shares during a transformative period for the crypto-asset ETF market. He commended 21Shares’ dedication to innovation and operational excellence, underscoring their commitment to democratizing access to crypto investments globally.

Since establishing a presence in the US market in 2021, 21Shares has been expanding its footprint. Following the successful launch of five futures-based ETFs in November 2023 and the subsequent introduction of its spot Bitcoin ETF in January 2024, the firm is working on broadening its offerings with physically backed crypto asset ETFs.

21Shares has over $3.2 billion in assets under management and a team of nearly 50 employees.