Coin asset management firm Coinshares has rebranded its Nordic ETP brand XBT Provider to “CoinShares XBT Provider” and is planning to expand in the second half of 2024. Coinshares acquired XBT Provider in 2017, and they have seen increased demand for crypto exposure via regulated products across Europe and the U.S. The Nordics follows a record financial quarter for CoinShares International, and Coinshares exercised the right to acquire Valkyrie Funds, a unit of Valkyrie Investment Inc., following the approval of its spot Bitcoin ETF by the Securities and Exchange Commission (SEC).
In May 2015, Sweden’s XBT Provider AB announced the authorization of Bitcoin Tracker One, the first Bitcoin-based security available on a regulated exchange. In October of the same year, it launched Euro-denominated Bitcoin-based security, Bitcoin Tracker EUR, available through Nasdaq Nordic, as reported in Bitcoin Magazine. Coinshares’ head of asset management, Frank Spiteri, stated that they are seeing an increased demand for digital assets as part of overall investment portfolios. Coinshares’ rebrand of XBT Provider reflects their commitment to the region and their investors.
Coinshares backed FlowBank has been declared bankrupt by the Swiss Financial Market Supervisory Authority (FINMA). FINMA opened bankruptcy proceedings against FlowBank as the bank no longer has the minimum capital required for its business operations. Coinshares did not provide additional comments on FlowBank’s bankruptcy. Coinshares has been expanding its presence globally, recently completing the acquisition of Valkyrie Funds in the U.S., boosting its market presence and operational footprint across the Atlantic.
Coinshares’ Nordic expansion plans reflect the growing demand for crypto exposure across Europe and the U.S. Coinshares sees the rebranding of XBT Provider as the start of an exciting new chapter for their Nordic operations. The acquisition of Valkyrie Funds in the U.S. and the approval of its spot Bitcoin ETF by the SEC are significant milestones for Coinshares, indicating their projected growth and expansion in the market. Coinshares remains committed to the region and their investors, as they continue to navigate the evolving landscape of digital assets and regulated products.
The rebranding of XBT Provider to “CoinShares XBT Provider” signifies Coinshares’ ongoing commitment to the Nordic region and their investors. Coinshares’ acquisition of Valkyrie Funds in the U.S., as well as their partnership with regulators to launch a spot Bitcoin ETF, demonstrate their dedication to expanding their global market presence. Despite the bankruptcy of FlowBank, Coinshares remains focused on their growth and expansion plans, driven by the increasing demand for crypto exposure and regulated products. Coinshares’ rebranding and expansion initiatives reflect their strategy to capitalize on the evolving digital asset landscape and provide investors with diversified investment opportunities.
Overall, Coinshares’ rebranding of XBT Provider, acquisition of Valkyrie Funds, and expansion plans in the Nordic region and the U.S. are indicative of their strategic vision to capitalize on the growing demand for crypto exposure and regulated products. While facing challenges such as FlowBank’s bankruptcy, Coinshares remains committed to their investors and is focused on achieving their projected growth and expansion goals. As the digital asset landscape continues to evolve, Coinshares’ initiatives reflect their commitment to providing investors with innovative and diverse investment options in the crypto space.
