XBT Provider managing director departs

Laurent Kssis

Laurent Kssis, managing director of cryptocurrency ETP asset manager XBT Provider, has left after two years with the firm, to pursue other opportunities.

Kssis (pictured) will be focusing on his management consultancy business, CEC Capital, which specialises in ETFs and cryptocurrency mandates.

He has held a number of roles across the asset management industry. Starting his career at Standard & Poor’s, where he spent two years before joining State Street as a marketing executive in 1997.

He also worked at Lehman Brothers and was head of ETF trading and co-head of portfolio trading at Societe Generale, before joining LaBranche and Bluefin Trading.

Kssis will be replaced by Ryan Radloff, chief executive of XBT Provider’s parent company CoinShares as the next step in completing a full integration between the two businesses.

In his new role, Radloff will be responsible for the final steps of the integration, which is expected to conclude by the end of the summer with XBT Provider rebranding as CoinShares ETPs.

Daniel Masters, chairman of XBT Provider, commented: “We have much more in store, but have one small, yet important item to tend to first: as a result of that success we have outgrown our old branding, XBT Provider, itself a reference to the ISO currency code for bitcoin.

“As such you can expect to see the name slowly drop away in favour of simply ‘CoinShares ETPs’ over the summer.”

Last month, XBT Provider listed two cryptocurrency ETPs on the Boerse Stuggart-owned Nordic Growth market, offering investors exposure to litecoin and ripple.

The two ETPs synthetically track the performance of their respective underlying cryptocurrency. The certificate is leveraged 1:1, meaning the value will match that of the underlying cryptocurrency minus fees.

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