Coinshares, a crypto asset management firm, has rebranded its Nordic ETP brand, XBT Provider, as “CoinShares XBT Provider.” The company is also in the process of expanding in the second half of 2024.
In May 2015, Sweden’s XBT Provider AB authorized Bitcoin Tracker One, the first Bitcoin-based security available on a regulated exchange.
As reported in Bitcoin Magazine, in October of the same year, it introduced Bitcoin Tracker EUR, a Euro-denominated Bitcoin-based security accessible through Nasdaq Nordic.
In 2017, Coinshares acquired XBT Provider.
“We are witnessing a rise in the demand for crypto exposure through regulated products in Europe and the United States as investors evaluate the potential advantages of incorporating digital assets into their overall portfolio,” stated Frank Spiteri, head of asset management at CoinShares.
Plans for Nordic Expansion
Immediately following a record financial quarter for Coinshares International, Coinshares announced the Nordics.
Following the Securities and Exchange Commission’s (SEC) approval of its spot Bitcoin ETF in January, CoinShares exercised its right to acquire Valkyrie Funds, a unit of Valkyrie Investment Inc.
The company disclosed the move, its rationale, the potential for expansion in the U.S. market, and its anticipated development in an announcement on January 12.
Coinshares announced that it has completed the acquisition of Valkyrie Funds in the United States, substantially increasing its global market presence and expanding its operational footprint across the Atlantic.
Spiteri stated, “This rebrand marks the commencement of an exciting new chapter for our Nordic operations, reflecting our unwavering dedication to this region and our investors.”
The Swiss Financial Market Supervisory Authority (FINMA) declared FlowBank, sponsored by Coinshares, bankrupt last week.
FINMA announced that it is initiating bankruptcy proceedings against FlowBank due to its inability to maintain the minimum capital necessary for its business operations.
Coinshares declined to provide additional commentary regarding FlowBank’s bankruptcy.
