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Brazilian Cryptoasset Manager Poaches Exec to Lead European Expansion
Laurent Kssis, the company's new European head, says launching thematic products that provide access to the broader crypto market is a key focus The hiring follows Hashdex's launch of a DeFi ETF and the approval of an upcoming Web3 offering Hashdex has poached an executive from rival 21Shares as the Brazilian cryptoasset manager expands its presence want to expand in Europe. Laurent Kssis, who will serve as Managing Director and Head of Europe, has joined the ETF issuer amid its product expansion. Hashdexdas had over $1 billion in assets under management last year. The company earlier this month sold a Web3-focused ETF to the Brazilian...
Brazilian Cryptoasset Manager Poaches Exec to Lead European Expansion
- Laurent Kssis, der neue Europaleiter des Unternehmens, sagt, dass die Einführung thematischer Produkte, die Zugang zum breiteren Kryptomarkt bieten, ein Hauptaugenmerk ist
- Die Einstellung folgt auf die Einführung eines DeFi-ETF durch Hashdex und die Genehmigung eines bevorstehenden Web3-Angebots
Hashdex has poached an executive from competitor 21Shares as the Brazilian cryptoasset manager looks to expand its presence in Europe.
Laurent Kssis, who will serve as Managing Director and Head of Europe, has joined the ETF issuer amid its product expansion.
Hashdex which had assets under management of over 1 billion last year.
The company launched a Web3-focused ETF on Brazil's B3 exchange earlier this month. The product is scheduled to begin trading on March 30 under the ticker WEB311 and seeks to replicate the CF Web 3.0 Smart Contract Platforms Index.
The launch of WEB311 follows the launch of Hashdex's DeFi ETF (DEFI11), also in Brazil.
Now Hashdex is trying to replicate its success in Brazil in the European market, Kssis said. The company plans to create ETPs (exchange-traded products) in Switzerland, where it is already established, he added, before rolling out such offerings across Europe.
“As we develop and launch products, we will continue to engage innovative investors and help them achieve the exposure they desire but are currently unable to achieve,” Kssis said in an email to Blockworks. “In addition, we will focus on leveraging our research capabilities to further educate the market on crypto innovation and investments.”
Hashdex is trying to differentiate itself from competitors by focusing on thematic products that provide exposure to the crypto market rather than individual assets “without much flexibility or diversification,” Kssis noted.
Kssis was formerly Managing Director and Global Head of ETPs at Swiss issuer 21Shares, which offers nearly two dozen single-asset ETPs. Hany Rashwan, CEO of 21Shares, told Blockworks last month that the company aims to support the top 50 cryptocurrencies by the end of this year.
“I have focused on single asset products in the past, but what Hashdex specializes in is baskets of crypto assets that provide exposure in a safe and easy way,” Kssis said. “As institutional investor needs evolve, we are fully focused on structuring products and helping investors achieve broad exposure to the market.”
Before 21Shares, Kssis was CEO of Swedish crypto issuer XBT Provider AB, which CoinShares acquired in 2017. There he oversaw the first European Ether ETP listing, which raised $400 million within weeks of launch.
Hashdex CEO Marcelo Sampaio said in a statement that Kssis' background - particularly in Switzerland, which he described as "the leading venue for listing crypto ETPs" - will help the company accelerate its international reach.
The number of ETPs trading in Europe continues to grow while the US Securities and Exchange Commission continues to refuse approval for such offerings.
The addition of Kssis is the latest in a series of new hires at Hashdex.
The company in December added Matthew Flood as head of U.S. business development and Jack Song as head of corporate communications and country chief of staff. The company said at the time that it planned to leverage its exclusive partnerships with Nasdaq and Victory Capital as part of its U.S. expansion and expected to launch U.S. products soon.
Hashdex recently hired Nicole Dyskant as global head of legal and compliance.
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Post-Brazilian Cryptoasset Manager Poaches Exec to Lead European Expansion Is Not Financial Advice.