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21Shares eyes Nordics crypto ETP push with State Street hire

Carl Hagerup will lead the firm’s Nordic expansion

Theo Andrew

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21Shares has appointed Carl Hagerup from State Street Global Advisors (SSGA) as its new managing director for the Nordics and the Netherlands.

In his new role, he will be responsible for developing the firm’s operations across both regions with a particular focus on ETPs in Sweden as well as becoming the go-to provider for retail and institutional investors in the Nordics.

Last December, the crypto ETP issuer listed the 21Shares Bitcoin ETP (ABTC) and the 21Shares Ethereum ETP (AETH) on the Nasdaq Stockholm.

Hagerup joins having spent almost four years at SSGA responsible for institutional and wholesale clients, including asset managers, pension funds, insurance companies, hedge funds and family offices across the Nordic region.

Prior to his time at SSGA, Hagerup was head of Nordics at the Intercontinental Exchange for two years. He also spent time in Nordic sales roles at both the London Stock Exchange and Bloomberg.

Hagerup said: “The Nordics is an exciting market for 21Shares and we can see that there is an increasing interest from Swedes to invest in crypto assets.

“The natural step for us is to start an expansion in the Nordics and our goal is to continue being an educating thought leader for potential and current crypto investors in both Sweden and the Nordics.”

He joins after the group appointed Karan Chawla as vice president of product from Uber. 21Shares also hired Gurjeet Kundi as the firm’s managing director and head of trading, who joined from Mizuho.

Earlier this month, Global X poached 21Shares director of exchange-traded products (ETP) Adam Sze, who was named head of digital assets and crypto product at the thematic issuer.

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