ETC Group appointed Tim Bevan as CEO of the firm as it undertakes a senior management restructure.
Bevan (pictured), who was previously co-CEO alongside Bradley Duke, will take the sole responsibility in the role with Duke moving to chief strategy officer at the business.
The pair, co-founders of ETC Group, said they took the decision to move away from the co-CEO model to better align its overall governance structure with the group strategy “in preparation for its next phase of growth”.
In his new role, Duke will be responsible for leading on strategy and examining broader opportunities for the group.
He will also become non-executive chairman of the firm’s UK entity.
ETC Group listed the first centrally cleared crypto exchange-traded product on the Deutsche Boerse in 2020, which has now amassed over $625m assets under management (AUM).
In March, the firm launched the first crypto ETP tracking an MSCI index – the ETC Group MSCI Digital Assets Select 20 ETP (DA20) – providing broad market exposure to investors by tracking an index of over 20 cryptocurrencies covering 85% of the market cap.