Europe’s digital asset-backed ETP issuer, ETC Group, has announced that it has made some changes within the senior management team ‘to better align its overall governance structure with Group strategy’.
In preparation for its next phase in growth, ETC Group writes that it is moving away from the co-CEO model, with Tim Bevan taking over as sole CEO to drive the ETP business, while Bradley Duke will be taking on the role of Chief Strategy Officer to lead on strategy and to examine broader opportunities for the Group. Duke will also become non-executive Chairman of the group’s UK entity.
Both Duke and Bevan are founders of ETC Group, which issued BTCE, the world’s first centrally cleared crypto ETP on Deutsche Börse’s XETRA in June 2020. The firm writes that BTCE is the largest physically backed crypto ETP in Europe with AUM of over USD625 million and also Europe’s most heavily traded crypto ETP.
Recently, ETC Group also listed DA20, describing it as the world’s first crypto ETP tracking an MSCI index signalling a move towards investment management products. DA20 provides broad market exposure to investors by tracking an index of 20 cryptocurrencies which cover 85 per cent of the total crypto market capitalisation.