CoinShares continues to pursue the goal of becoming a global FinTech company. To this end, an is now taking over the ETF index business from Elwood.
CoinShares, the largest provider of digital investments in Europe, is taking over the ETF index business from Elwood Technologies. The company announced it today by Press release known. This also includes an ETF that invests in companies whose business concepts are based on the blockchain. This was previously designed by the US investment company Invesco together with Elwood. The volume is currently just over a billion US dollars.
In addition to the various indices, the equity research team is also switching to CoinShares and will thus continue its analyzes of cryptocurrency and blockchain-related stocks at the investment company. CoinShares CEO Jean-Marie Mognetti is delighted with the acquisition:
This acquisition marks another milestone for CoinShares in executing our strategic plan to generate shareholder value and become a global financial technology company. We look forward to welcoming Elwood’s index platform as the latest addition to the CoinShares team.
Jean-Marie Mognetti, CoinShares CEO
In addition, one sees more and more investors looking for exposure to cryptocurrencies as well as stocks that benefit from blockchain technology.
CoinShares is also expanding crypto products to Germany
After the brilliant IPO in February, the company only came into the focus of media attention a month ago when the investment provider launched three ETPs on the German Xetra exchange. More precisely, it was a Bitcoin, an Ethereum and a Litecoin ETP. With the move, the aim was to take the fear of investing in crypto assets away from institutional investors in particular. The fact that the financial products are all “physically covered” was certainly conducive to the trust.
With the current takeover of the index business from Elwood, the company now seems to want to position itself even broader. To what extent this will help the company to generate further shareholder value remains to be seen.