21Shares, which was recently acquired by a U.S. broker, announced several leadership changes on Tuesday afternoon. 21Shares specializes in exchange-traded products (ETPs) based on crypto assets and currently manages over $11 billion in assets.

Adrian Fritz, previously Global Head of Research and with the firm for four years, has been promoted to Chief Investment Strategist. In this role, he will focus more on sales and capital markets. As Vice President and Chief Investment Strategist, his responsibilities include «leading the firm’s global investment strategy, advancing market forecasts, portfolio assessments, and the asset allocation approach in digital assets». 

Head of Strategy Returns to Zurich to Lead Research

His successor as head of the five-member research team is Eliézer Ndinga, formerly Head of Strategy and with 21Shares since April 2020. 

Ndinga spent more than three years with the research team, which he originally founded, and since December 2023 has served as Vice President and Head of Strategy at 21.co in New York City. He now returns to the company’s headquarters in Zurich.

Global Head of Business Development with Blackrock Background 

In addition Federico Brokate has been promoted to Global Head of Business Development.

Brokate previously led U.S. business operations at 21Shares. In his new role, he will focus on strengthening partnerships with institutional investors, expanding product reach, and identifying strategic market entry opportunities in the U.S. and globally. Before joining 21shares in 2024, Brokate served as Director of Americas iShares business strategy at BlackRock.