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The Crypto Manager of $36 Billion

Ophelia Snyder worked for the Discovery Channel in her early twenties.

The Crypto Manager of $36 Billion iBase Trading.
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Ophelia Snyder worked for the Discovery Channel in her early twenties. She was producing marine biology films. She now manages $US2.5 billion in a dangerous and volatile financial sector (crypto) at the age of 29.

Snyder based her company, 21Shares, in Zug which is Switzerland’s Crypto Valley. It offers European investors Bitcoin funds traded on exchange platforms as well as tokens like Polkadot and Avalanche, which are only known to the crypto elite.

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She’s now collaborating with Cathie Wood, another crypto evangelist, to develop a Bitcoin ETF in the United States. Snyder has even established a New York office in the hopes of furthering his business in the United States.

Crypto Manager Snyder Aims for Transformative Technology

Her concept is simple. She understands that crypto investing is sweeping the globe, but for ordinary investors in the United States, where regulators have tried to prevent the sale of crypto-based products for nearly a decade, purchasing and selling the coins can be a difficult procedure.

She’s up against a number of challenges. Wood, Snyder’s mentor, is having a bad start to 2022 as tech equity markets plummet and investors flee her flagship fund. In the last week, crypto assets have plummeted as the Federal Reserve signaled that interest rate hikes are on the way. Meanwhile, the Securities and Exchange Commission does not appear interested in approving crypto ETFs anytime soon.

Snyder, on the other hand, is unfazed. She expressed that they really want people to feel at ease when they go inside the space. She added that their business is to eliminate barriers to access and get people enthusiastic about what they believe is transformative technology.

21Shares’ Collaborators

Ophelia Snyder also co-founded Amun, a sister company that offers tokens and indices to more experienced investors. Amun and 21Shares’ assets have risen to $US2.5 billion in three years, and the company now employs around 100 people.

Graham Tuckwell, head of ETFs Capital and an ETF pioneer from Australia; Adam Draper, founder of Boost VC Accelerator and son of famed venture capitalist Tim Draper; and Wood from Ark Investment Management are among the early backers.

Wood and Snyder became friends after having met at a conference and discovering their shared interest in cryptocurrency. Wood is a member of Amun’s board of directors and has made a personal investment in the company.

SEC’s in the Way, Unsurprisingly

The SEC, which is apprehensive about making it simple to invest in crypto, stands in the way of the Bitcoin ETF they want to issue. Its apprehension isn’t just because most cryptocurrencies’ prices fluctuate wildly. It’s also because funds that providers based on crypto are prone to frequent technological faults, are susceptible to manipulation, and are frequently employed in criminal activities. In addition, all of these make them potentially dangerous to the small investors that the SEC supposedly safeguards.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

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Nicholas Martinez is passionate about making the crypto world more accessible by bringing the latest news to the space. He has a MBA in Business Analytics and has shown an interest in cryptocurrency from as far back as he can remember.