CoinShares, a European crypto investment firm, has introduced a new hedge fund called “CoinShares Hedge Fund Solution” to cater to qualified U.S. investors and broaden its geographical reach. CoinShares Capital, a FINRA-licensed broker-dealer, will handle the marketing activities for the new hedge fund division. Following this announcement, CoinShares stocks on Sweden’s Nasdaq First North Growth Market surged by up to 2.59% to 43.60 SEK ($3.90).
Besides the hedge fund division, CoinShares has also submitted plans to the U.S. Securities and Exchange Commission (SEC) for launching two additional crypto funds that focus on Bitcoin (BTC) and Ethereum (ETH). However, these two investment products have not yet made any sales, as reported by Bloomberg.
In July 2023, CoinShares observed a significant increase in institutional capital flowing into the crypto markets. The firm attributed this surge to BlackRock’s application for a bitcoin exchange-traded fund (ETF) with the SEC. Established in 2013, CoinShares is Europe’s largest crypto management firm and manages over $2.5 billion in assets.
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