Dechert Advises 21Shares and ARK Invest on the Launch of Their First Bitcoin ETP

Dechert has provided legal counsel to 21Shares, a leading issuer of crypto exchange-traded products and developer of blockchain technology, and ARK Invest, a leading investment management firm renowned for its focus on disruptive innovation in public equity markets, in the launch of their inaugural Bitcoin ETP.

21Shares is one of the world's preeminent issuers of cryptocurrency-backed investment products and was the first to issue a physically-backed bitcoin ETP (open ended) in Europe nearly half a decade ago. 21Shares has distinguished itself through its longstanding crypto expertise, deep fundamental research, and large product offering base. ARK Invest distinguished itself as the first public fund manager to venture into the Bitcoin space, having made its initial allocation in 2015. Since then, ARK has skillfully navigated the dynamic crypto market cycles and continues to publish cutting-edge research as part of its exclusive focus on offering investors access to disruptive innovation funds.

The Dechert advisory team was led by partners Allison Fumai, Anna Tomczyk, Joe Riley, and Robert Rhatigan, and senior associate Sam Scarritt-Selman.

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our 1,000+ lawyers across 21 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.