CoinShares becomes first digital asset investment house to be publicly listed

Monday 22 March 2021

A Jersey-based digital asset investment house has become the first business of its kind to publicly listed on an exchange.

On 10 March, Nasdaq Stockholm AB formally approved Coinshares’ application for admission to trading.

The firm is Europe's largest digital asset investment firm, managing over $4bn of assets on behalf of its client base.

Its offering raised funds of 151,100,000 kr (around £127.5m), prior to costs associated with the listing.

At market close on 11 March, the stock’s value had increased over 30%, with the market cap approaching $1bn after its first day of trading. 

Jean-Marie Mognetti, CEO of CoinShares, described the listing on Nasdaq First North Growth Market as a “major and exciting milestone for our company.”

He continued: “We have had a strong presence in Sweden and on Nasdaq Nordic since 2016 with our XBT Provider line of crypto ETPs, which now have over $4 billion in AUM, and we are delighted to expand our commitment to Nasdaq and Sweden… 

“As investors look for new ways to gain exposure to the expanding digital asset class, their response to our IPO is an encouraging sign for our future on Nasdaq as well as further evidence of the increased interest in the wider digital asset industry. 

“We will continue to strive to bring trust and transparency to the digital asset class and look forward to welcoming our new shareholders into the CoinShares family as we bring further innovative products and services to the digital asset ecosystem."