CoinShares Acquires Napoleon Asset Management, Expanding into EU Markets

CoinShares Group, a Jersey-based digital asset investment firm, announced Monday that it has acquired Paris-based Napoleon Asset Management, a digital asset manager licensed under the AIFM Directive.

CoinShares said it signed and completed the transaction on June 30. The acquisition of Napoleon Asset Management is set to allow CoinShares to promote its products and services across the European Union (EU).

The France-based Napoleon Asset Management is licensed by French financial markets regulator Autorité des Marchés Financiers (AMF) under the Alternative Investment Fund Manager (AIFM) directive, which offers permission to market products and services across the EU.

The AIFM license is one of asset management firms’ most rigorous European regulations. The license is a key component in CoinShares’ ambition to become the leading investment group in the digital asset sector.

Therefore, the acquisition of Napoleon AM allows CoinShares to provide AIFM-compliant products and services across the European Union markets. CoinShares can now offer its exchange-traded products (ETPs) and other investment products across the EU, thus giving it a much-needed background for generating additional revenues.

The acquisition will also enable CoinShares to leverage active investment strategies based on algorithmic trading for digital assets built by Napoleon Asset Management teams.

CoinShares, which claims to be the largest digital asset investment firm in Europe, entered into an agreement to buy Napoleon Asset Management last year for Euro 13.9 million ($14.5 million) in stock and cash. However, the acquisition was subject to the AMF’s’ approval, which was granted on June 28.

Jean-Marie Mognetti, Chief Executive Officer of CoinShares, talked about the development: “We are very pleased to have received this approval from the AMF to acquire Napoleon Asset Management. Bringing the company into our group is a further step in the right direction toward investor protection. Our regulated status in a growing number of jurisdictions is one of CoinShares” principal strengths; it reassures our clients and demonstrates our plans to lead Europe’s’ digital asset sector.”

Market Fall Delays Settling Trade Deals

The move by CoinShares to acquire the French-based Napoleon Asset Management is part of the developing crypto deal-making trends amid the ongoing market crash. An increasing number of firms are seeking to stake positions in the industry.

So far this year, an estimated 42 deals have been announced to acquire various crypto-related companies. However, some market analysts say the turmoil in the crypto market could make it more difficult to close deals and others.

In May 2021, Novogratz’s Galaxy Digital agreed to purchase crypto-custody specialist BitGo with Galaxy shares for $265 million in cash. The deal, which is waiting to close, promises to make Galaxy a major player in the competition to attract retail and institutional investors.

The deals come as crypto-related companies try to establish themselves as strong players, despite the fall in crypto prices, with Wall Street companies benefiting from all forms of markets.

M&A volume is expected to rise as firms with solid balance sheets seek to acquire crypto firms with weak balance sheets yet valuable assets or intellectual property.

Crypto firms are experiencing reduced profits and job cuts amid extreme market conditions. This will lead to exciting industry consolidation and M&A opportunities.

Image source: Shutterstock


Tagged : / / /

CoinShares Lists Chainlink, Uniswap ETPs on Germany’s Stock Market Xetra

CoinShares, the largest digital asset investment firm in Europe, announced on Wednesday it has listed two new physically-backed ETPs on Germany’s stock market Deutsche Börse Xetra.

The digital asset firm said that it launched CoinShares Physical Chainlink (Ticker: CCHA) and CoinShares Physical Uniswap (Ticker: CIWP) to allow investors to continue to diversify their investment portfolios across the new form of financial services replicated on cryptocurrency rails.

The two new crypto ETPs increase the choice of cryptocurrency products on the German stock exchange. More than 40 crypto ETP offerings are currently trading on the Xetra exchange. The ETPs relate to the cryptocurrencies, including Bitcoin, Ethereum, Cardano, Bitcoin Cash, Litecoin, Polkadot, Solana, Stellar, Tezos and TRON as well as five baskets of cryptocurrencies.

Frank Spiteri, CoinShares’ Chief Revenue Officer, talked about the development and said: “As the digital assets sector evolves, so too does investor interest in protocols beyond Bitcoin and Ethereum. A more thematic approach to digital assets is emerging amongst those most familiar with crypto, and we expect that trend to continue as research and investor education improves.”

Leading the Growth of Digital Assets

CoinShares’ ETP offerings have expanded far beyond Bitcoin and Ether in recent months. The launch of the new crypto ETPs brings the total number of ETPs listed by CoinShares in 2022 to seven.

In January, the firm launched and listed CoinShares Physical Staked Tezos and CoinShares Physical Staked Polkadot to provide exposure to proof-of-stake (PoS) protocols and the rewards for participating in their security.

Likewise, in March, CoinShares launched Solana and Cardano ETPs to enable investors to earn attractive yields through staking.

Last week, the investment manager listed the CoinShares FTX Physical FTX Token (CFTT) on the Xetra to track the native currency of the regulated cryptocurrency exchange FTX and to be used for fee discounts and over-the-counter rebates.

CoinShares is Europe’s largest digital asset investment firm, managing over US$4.5 billion worth of assets on behalf of global clients. The firm has continued expanding access to the digital asset ecosystem by offering new financial products and services to fulfil the rising interests of investors.

Image source: Shutterstock


Tagged : / / /

Capital Inflows into Crypto Investment Products, Hit a 3-Month High of $193m

In the past week, inflows into crypto investment products reached $193 million, a scenario is last seen in mid-December 2021, according to digital asset management firm Coinshares.

Bitcoin (BTC) took the lion’s share of these inflows at $98 million, driving year-to-date investments to $162 million. Per the report:

“Following last week’s price recovery, total assets under management (AUM) now sit at $57 billion. Regionally, the majority (76%) of inflows came from Europe at $147 million, while the Americas lagged at $45 million, with some providers continuing to see minor outflows.”

Solana (SOL) also witnessed notable investments of $87 million, representing 36% of AUM. 

With an AUM of $241 million, Solana emerged as the fifth largest crypto investment product. Therefore, it comes second in the altcoin class after Ethereum (ETH).

Coinshares added:

“Most other altcoins saw inflows last week, most notable were Cardano, Polkadot and relative newcomer ATOM, with inflows of US$1.8m, US$1.2m and US$0.8m respectively.”

These statistics by Coinshares indicate that institutional crypto investments reached levels not seen in the last three months. The inflows witnessed correlate with the surge in the prices of Bitcoin and Ethereum. 

Bitcoin was up by 12.18% in the last seven days to hit $47,398 during intraday trading, according to CoinMarketCap. Ethereum was up by 13.44% during the same time frame to reach $3,394.

Institutional investments have played an instrumental role in pumping more liquidity into the crypto market, leading to all-time high (ATH) prices. For instance, institutional investments enabled Bitcoin to breach the then ATH of $20,000 in December 2020 after trying to do so for three years. 

Meanwhile, Janet Yellen, the U.S. Secretary of the Treasury, recently acknowledged crypto’s rising role in American finance. Yellen pledged to look at guidance and regulations needed to boost innovation in the digital asset space. 

Image source: Shutterstock


Tagged : / / / / / / / / /

Crypto Investment Products, Funds Sees Net Outflows for 2nd Straight Week

Digital asset manager CoinShares stated that crypto investment products and funds saw net outflows for a second straight week, according to Reuters. - 2022-03-22T173916.687.jpg

In the week ended March 18, the crypto sector witnessed net outflows of $47 million after experiencing outflows of $110 million the previous week, even though there were persistent worries about regulation and the potential fallout from the Russia-Ukraine war.

However, there were seven straight weeks of inflows for digital asset investment products before the last two weeks.

There was an ongoing effort to regulate crypto when the outflows came as U.S. President Joe Biden had signed an executive order a few weeks ago calling the government to test the risks and benefits of introducing a central bank digital dollar and other crypto issues.

Bitcoin witnessed the largest outflow with $33 million in the latest week, and it had seen $70 million outflows previously, CoinShares report showed. However, year-to-date flows remained positive at $63 million.

Mikkel Morch, executive director at digital asset hedge fund ARK36, said that “even though Bitcoin has retraced a bit after tagging $42,000 over the weekend, it still managed to close the week well above $40,000.”

“Such a retrace seems healthy after a notable move up over the past week and shouldn’t be viewed as a negative reaction to any particular piece of geopolitical or macro news. As long as Bitcoin stays above $40,000, there is a good chance of continuation.”

The report stated that Ethereum-based products had outflows of $17 million last week, lower than the previous week, which saw outflows of $50 million.

However, analysts said that Ethereum continues to see negative investor sentiment with year-to-date outflows of $151 million or 1.2% of total assets under management.

Other altcoins saw inflows last week, such as Ripple, Polkadot, and Solana.

The report also stated that blockchain-linked equity investment products also posted net inflows of $17 million last week, up from $4 million the previous week.

Image source: Shutterstock


Tagged : / / / / /

CoinShares Acquires Additional Stake in Switzerland-Based FlowBank

CoinShares, a digital asset management firm based in the UK, announced that getting approval from the Swiss Financial Market Supervisory Authority, has acquired an additional 20.8% stake in FlowBank, a fully licensed online bank headquartered in Geneva, Switzerland. - 2022-03-15T173206.236.jpg

Following the firm’s October 2021 strategic investment of a 9.02% stake in FlowBank, the latest investment brings CoinShares overall holding to 29.3%.

CoinShares strategic investment in FlowBank brings together the two trusted companies in their respective markets and indicates industry transformation, which will benefit investors in Switzerland and beyond. Following the acquisition, Jean-Marie Mognetti, the CEO of CoinShares, will join FlowBank’s board of directors to advise on FlowBank’s digital asset strategy and international development.

CoinShares built Galata, a proprietary technology platform, which acts as a gateway to the digital asset ecosystem and connects centralized finance (CeFi) platforms to digital asset protocols and markets. FlowBank will leverage CoinShares’ Galata powered technology to be able to take advantage of more advanced features and provide exposure to a variety of digital assets to its customers.

Jean-Marie Mognetti, CEO of CoinShares, talked about the investment and said: “After remarkable financial results in 2021, we continue to build an ambitious plan to make CoinShares an essential and leading player in the digital asset space. We are very excited to increase our participation in FlowBank, a key innovative player in Switzerland powered by a unique technology, allowing them to leverage our technology and digital asset expertise. This is aligned with our strategic plan to make CoinShares an integrated digital asset fintech company.”

Meanwhile, Charles Henri Sabet, the Chief Executive Officer at FlowBank, also commented about the partnership and stated: “We are delighted that CoinShares continues to recognize and support FlowBank’s great potential and accomplishments and has decided to increase its stake in our bank. Today, FlowBank’s clients can invest in CoinShares’ crypto on CFDs and gain exposure to digital currencies in this way. This is only the beginning. We look forward to collaborating further with CoinShares in the coming months and taking our product offering to the next level together.”

Bridging the Gap between Traditional Finance and Decentralized Finance

Established in 2015, London-based CoinShares continues to serve as a digital asset management firm that offers a variety of financial products and services to professional investors.

Early last year, CoinShares launched a new physically-backed ETP, CoinShares Physical Bitcoin (Ticker: BITC), amid a fierce rally for the world’s largest digital currency. The investment company launched the CoinShares Physical Bitcoin product and listed it under the SIX Swiss Exchange to provide institutional investors with passive exposure to Bitcoin and the convenience of an exchange-traded product.

Since 2014, CoinShares has provided an effective bridge between the cryptocurrency ecosystem and traditional finance through its suite of ETPs (Exchange Traded Products). The physical Bitcoin product represents the next stage of such evolution. CoinShares continues developing investment vehicles that eliminate the boundaries prohibiting institutions from actively investing in what they believe to be the future of finance.

Image source: Shutterstock


Tagged : / / /

Market Sentiment Improves As Bitcoin (BTC), Solana (SOL) and Cardano (ADA) See Institutional Inflows: CoinShares

Digital asset manager CoinShares says last week’s crypto market recovery was accompanied by significant institutional investment inflows for several large digital assets.

According to the latest Digital Asset Fund Flows Weekly report, the largest crypto by market cap, Bitcoin (BTC), enjoyed last week’s largest share of institutional investments.

“Bitcoin continues to lead the inflows with US$71m last week, the largest since early December with this 3-week run of inflows totaling US$108m. Volumes in Bitcoin investment products remained low last week at US$1.8bn versus US$3.4bn the previous week.”

Leading smart contract platform Ethereum (ETH) suffered its ninth consecutive week of outflows, losing $8.5 million in institutional investments last week.

“Investment products flows for Ethereum suggest investors remain bearish with outflows of US$8.5m, having entered the 9th week run of outflows totaling US$280m…”

Meanwhile, Ethereum challengers Solana (SOL), Polkadot (DOT), Terra (LUNA) and Cardano (ADA) all saw inflows totaling $2.4 million, $2.2 million, $1.4 million and $1.1 million, respectively. This was the first week of significant institutional investor inflows for LUNA.

Source: CoinShares

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix



Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/PHOTOCREO Michal Bednarek


Tagged : / / / / / / / / / / / /

Investor Sentiment in Bitcoin and Ethereum Improving Amid Crypto Market Correction, According to CoinShares

The recent crypto market meltdown drove investor enthusiasm toward the two largest crypto assets by market cap, according to a new survey conducted by digital asset manager CoinShares.

The digital asset manager says that while investor sentiment for Bitcoin (BTC) and (ETH) improved in December of 2021, Cardano (ADA), Solana (SOL) and additional altcoins witnessed the opposite.

“During the month of December 2021, when market prices were declining sharply, investor sentiment improved for the larger digital assets Bitcoin, Ethereum and multi-asset, while sentiment declined for the smaller assets such as Cardano, Solana and other altcoins.”

Investor sentiment in the ninth-largest crypto asset by market, Polkadot (DOT), remained unchanged, according to the CoinShares Digital Asset Bi-Monthly Fund Manager Survey.

The new CoinShares survey notes that allocations to digital assets were correlated to investor sentiment. Bitcoin and Ethereum received relatively larger allocations compared to Polkadot, Cardano and Solana.

“Allocations to digital assets mirrored the growth outlook for digital assets, where allocations were minimally increased for the larger coins at the expense of altcoins.”

According to CoinShares, regulations are increasingly becoming a key concern for crypto investors.

“There has also been an almost doubling in the number of investors concerned about regulation.

Regulation has taken the top spot for the key risks amongst investors despite greater clarity on MiCA [Regulation of Markets in Crypto-assets] and the recent decision from the SEC [U.S. Securities and Exchange Commission] to allow a Bitcoin futures ETF [Exchange-Traded Fund].”

MiCA is a framework seeking to regulate crypto assets in the European Union with a view of preserving financial stability and protecting investors.

The survey polled investors who “cover $250 billion of assets under management.” The majority of the respondents live in North America as well as the European and Middle Eastern regions.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix



Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Jurik Peter


Tagged : / / / / / / /

Institutional Investors Cautiously Building Crypto Positions As BTC Remains Below $40,000

Institutional investors appear to be dipping their toes back into the crypto markets to get in on lower price levels, according to a new report.

Digital asset manager CoinShares says investors are cautiously adding to their crypto portfolios.

“Digital asset investment products saw inflows for a second week totaling US$19m last week, while small, it continues to suggest investors are beginning to cautiously add to positions at these depressed price levels.”

Bitcoin (BTC), the largest crypto by market cap, led the way last week in inflows, totaling $22 million. This marks the second week of inflows in a row for Bitcoin.

Leading smart contract platform Ethereum (ETH) has not fared as well as Bitcoin over the past two months, according to the firm.

“Ethereum continues to suffer from negative sentiment with outflows of US$27m, the 8th consecutive week which now total US$272m.”

Multi-asset investment products enjoyed inflows of $32.1 million, while multiple digital assets suffered outflows.

“Solana, Polkadot and Cardano saw outflows last week suggesting investors are shunning altcoins, although multi-asset funds (a combination of coins) saw inflows totaling US$32m, the largest since June 2021, suggesting investors are adopting a diversified investment approach.”

Source: CoinShares

Solana (SOL), Polkadot (DOT) and Cardano (ADA) all saw relatively minor outflows last week, equaling less than $10 million in total.

The full CoinShares report can be read here.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix



Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia


Tagged : / / / / / / / /

Is the bottom in? Institutional crypto funds record second week of inflows

After recording heavy outflows at the start of 2022, cryptocurrency investment funds have seen a gradual uptick in investor demand over the past two weeks, offering cautious optimism that the worst of the market downturn had passed.

Digital asset investment products saw $19 million worth of cumulative inflows last week, according to CoinShares. Bitcoin (BTC) and multi-asset funds led the gains with $22 million and $32 million worth of inflows, respectively.

The news wasn’t all positive, as Ether (ETH) continued to suffer from negative sentiment with outflows totaling $27 million. That marked eight consecutive weekly outflows for ETH-focused funds. Solana (SOL), Polkadot (DOT) and Cardano (ADA) products also registered outflows for the week.

Digital asset products have seen heavy outflows since December, as institutional investors took profits and reduced their positions amid extreme selloffs in the market. So far this year, Bitcoin funds have seen a net $131.8 million worth of outflows, according to CoinShares data. Ether funds have seen $111.2 million worth of drawdowns.

Bitcoin’s price rose to as high as $38,778 on Monday, according to Cointelegraph Markets Pro and TradingView. However, the flagship cryptocurrency is down over 20% in January, marking its worst start to the year since 2018.

Related: Bitcoin price down 20% so far in 2022 after worst January since 2018

The Crypto Fear & Greed Index, which monitors market sentiment using several sources, remains in a state of “extreme fear” with a reading of 20. The index, which sides along a scale of 1 to 100, plunged as low as 13 last week.

Nevertheless, net inflows into Bitcoin and multi-coin funds suggest that institutional money is slowly returning to the market. While traders remain at odds over whether the market has actually bottomed, long-term investors posit that a sub-$40,000 Bitcoin is an attractive buy opportunity.