CoinShares Expands its Footprint
Major European cryptocurrency asset manager, CoinShares, is making a landmark move by opening a hedge fund division in the U.S., despite facing a stringent regulatory climate.
Meeting Growing U.S. Demand
The firm’s announcement on Sept. 22 marks its first venture into offering products to U.S. investors. The establishment of CoinShares Hedge Fund Solutions is a strategic move to meet the escalating demand from the U.S. market for cryptocurrency-based products.
Lewis Fellas, the division’s head, emphasized the dynamism of the crypto market. He said, “Crypto is full of fleeting promises and momentary successes…” underscoring the continuously changing risk and needs of institutional investors.
Offering Tailored Solutions
CoinShares’ ambition is not just to launch another product, but to provide a spectrum of offerings. Their goal is to cater to individual institutional needs, ensuring an optimal and diversified crypto portfolio. Though specifics remain undisclosed, the product range is promised to be extensive.
CoinShares Capital will be at the forefront of marketing activities, connecting with potential U.S. investors. As a registered broker-dealer with the Financial Industry Regulatory Authority, CoinShares Capital holds a crucial role in this expansion.
CoinShares: A Brief Overview
Founded in Jersey, CoinShares stands as a titan in the crypto investment domain. Since their first Bitcoin ETP in 2015 and Ether ETP in 2017, the firm has been a significant player in the crypto market. Moreover, their research division holds a reputable position, shedding light on the ever-evolving digital asset industry.
Navigating Regulatory Waters
CoinShares’ U.S. entry isn’t without challenges. Leading platforms like Coinbase and Binance.US are grappling with lawsuits from the U.S. Securities and Exchange Commission. Despite the domestic challenges, Coinbase has been seeking expansion horizons in other regions, reportedly even exploring the acquisition of FTX Europe.
