Ophelia Snyder of 21Shares, The Vision for Cryptocurrency ETPs

- The Founding Story of 21Shares by Ophelia Snyder, Development of Cryptocurrency Investment Products - Providing Over 50 ETPs within 6 Years, Expanding into Global Markets [Unblock Media] This article is based on questions derived by April of Unblock Media and was written through an in-person interview conducted by JJ, a roving correspondent for Block Media, with Ophelia Snyder. Ophelia Snyder co-founded 21Shares in 2018 with the aim of making cryptocurrency investments accessible to the general public, especially for her mother. She explained for free the reasons behind founding the company. "My interest in cryptocurrency began thanks to my mother. After watching a documentary about the financial crisis, she introduced me to Bitcoin and explained the need for a neutral payment system to be used in the global economy." Through her technology-based approach, Snyder developed cryptocurrency investment tools. 21Shares currently holds a value of about $700 million and provides 15 cryptocurrency ETPs across four countries. The company's products are designed to be easily accessible to investors and help them understand the complex cryptocurrency market. Snyder continued, "After researching globally to find the best country to structure cryptocurrency ETPs, we chose Switzerland due to its neutrality and regulatory clarity." 21Shares structured its products around Switzerland and has offices in New York and Zurich. Regarding the process of applying for a Bitcoin ETF, she explained, "Every regulatory process is a labor of love. It involved various stages like close cooperation with regulatory agencies, market microstructure analysis, and data provision." Snyder elaborated on the 50 cryptocurrency investment products that 21Shares offers, saying, "We mostly provide passive products, covering major cryptocurrencies like Bitcoin, Ethereum, and Solana." She added, "We continuously develop technology to ensure the security and efficiency of cryptocurrency investment tools." Regarding the Solana ETF application, she stated, "We operate Solana ETPs in the European market and are working to get similar products approved in the U.S." She added, "The process is somewhat complex as each cryptocurrency has to be individually approved." Finally, Snyder noted, "Our first product, 'HODL', was developed with the initial intention of holding cryptocurrencies long-term. This product still reflects that intention well." 21Shares focuses on bridging the gap between traditional finance and the cryptocurrency market through its ETPs and plans to launch more ETPs covering a wider range of cryptocurrencies in the future.