CoinShares – WireUp

Buy-backs and cancellation of shares in CoinShares International Limited

April 4, 2023 Published by TheBlockchainExaminer.com

As announced on 30 December 2022, the Board of Directors of CoinShares International Limited (“CoinShares” or the “Company“) (Nasdaq Stockholm Market: CS; US OTCQX: CNSRF), Europe’s largest and leading digital asset investment and trading group, resolved to implement a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 3 January 2023, up to and including 3 April 2023 for total maximum amount of SEK 25 million in accordance with the authorisation from the Annual General Meeting on 20 June 2022.

Buy-backs of shares in CoinShares International Limited

March 10, 2023 Published by TheBlockchainExaminer.com

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

Date	Number of shares acquired	Lowest price paid (SEK)	Highest price paid (SEK)	Volume weighted average (SEK)
03 March 2023	1,200	32.85	33.70	33.03
06 March 2023	1,124	31.55	32.80	32.71
07 March 2023	1,050	30.55	32.50	31.29
08 March 2023	320	32.00	32.60	32.42
09 March 2023	1,110	32.35	33.30	33.02
	4,804

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company’s holding of own shares as of 10 March 2023 amounts to 325,902 shares. The total number of shares in CoinShares amounts to 68,135,425.

For a full break-down of repurchases made, please refer to the attached announcement.

CoinShares Announces Interim Results for the Period ended 31 March 2022

May 3, 2022 Published by TheBlockchainExaminer.com

CoinShares International Limited (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF) (“CoinShares”), Europe’s largest and longest standing digital asset investment firm today announced preliminary financial results for its first quarter ended 31 March 2022 and provided an update on its corporate strategy.

Q1 2022 financial highlights

Combined revenue, gains and other income of £27.96 million (Q1 2021: £39.91 million)
Adjusted EBITDA of £18.7 million (31 March 2021: £34.2 million).
Total comprehensive income of £20.2 million (31 March 2021: £32.1 million).
ETP assets under Management (“AUM”) as at 31 March 2022 of £3.07 billion (31 March 2021: £3.4 billion)
CoinShares Blockchain Global Equity Index (BLOCK Index) assets under Management (“AUM”) as at 31 March 2022 of £0.88 billion.
Net asset position of the Group as at 31 March 2022 of £221 million (December 2021: £200.5 million).

Q1 2022 operational highlights

Important steps taken towards the Group’s long-term strategy, including progressing plans to uplist to the Nasdaq Stockholm Main Market, hiring a Group Head of Marketing and Communications with a dedicated team and integrating consumer platform, Napoleon.
Investment into key growth areas, including growing the staff base, which as at 31 March 2022 stands at 95 individuals (up from 42 as at 1 January 2020).
Ongoing diversification of the Group’s asset management platform through the launch of 4 additional products within the CoinShares Physical product suite.
A diversification in activities of the Capital Markets team, whose performance was driven by, among other things, the deployment of capital into DeFi protocols to generate staking rewards and yield.
Continued deployment of Principal Investments arm, including increased stake in Swiss digital bank, FlowBank.

Commenting on Q1 2022’s results, Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

“CoinShares has delivered a good first quarter with strong financial and operational progress. We delivered resilient EBITDA of £18.7 million, all while making considerable steps to advance our long-term strategy. This includes work towards our imminent uplisting to Stockholm’s main market, significantly growing our headcount, including a new Group Head of Marketing and a dedicated team to support the Group’s enlarged footprint, and integrating our consumer platform, Napoleon.

“We are continuing to invest in our long-term future, and the Group is well positioned to navigate the shifting global regulatory landscape for digital assets in 2022.”

CoinShares and FTX Announce Partnership with the launch of CoinShares FTX Physical Staked Solana ETP

March 24, 2022 Published by TheBlockchainExaminer.com

CoinShares (“the Company”) (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF), Europe’s largest digital asset investment firm with US$3.8bn in AUM, and FTX, a leading regulated cryptocurrency exchange, today announced a partnership between the two organizations. The first initiative in the partnership is the launch of the world’s first physically-backed Solana exchange traded product (ETP) designed to share the rewards of staking with investors in a transparent way. The ETP will launch with 1M SOL in seed capital.

The partnership with CoinShares is the latest move into the institutional landscape for FTX, following the launch of FTX Access, which offers advisory services, index products, trade execution, analytical tools and capital introductions for institutional investors interested in gaining exposure to digital assets. For CoinShares, this collaboration with FTX and FTX Access continues the Company’s mission of bridging the gap between traditional finance and digital assets in a secured, transparent and familiar manner. Both organizations are at the forefront of innovation for the financial ecosystem and this partnership will continue to bridge the gap between traditional finance and digital assets.

Sam Bankman-Fried, FTX CEO, commented on the news, “The goal of FTX Access is to bring institutional-grade services and products to market in a cost-effective manner. We only want to launch products that are genuinely innovative and add value to our clients. CoinShares has a proven track record of providing European investors with innovative and regulated crypto-asset investment vehicles for close to a decade, making them the obvious choice to collaborate with for institutional offerings. We’re excited to work alongside CoinShares to give investors access to the Solana ecosystem and we look forward to collaborating further on additional offerings.”

CoinShares FTX Physical Staked Solana leverages the Company’s technology platform, Galata, that acts as a bridge between the digital asset ecosystem, connecting CeFi platforms to digital asset protocols and markets, in combination with FTX’s industry-leading institutional offerings to provide investors with exposure to Solana and the rewards for participating in the blockchain’s security. CoinShares FTX Physical Staked Solana will be listed on Germany’s main market Xetra and is the fourth ETP launched by CoinShares this year.

CoinShares FTX Physical Staked Solana
Management Fee: Reduced to 0.0% p.a.
Staking Reward: 3.0% p.a.
ISIN: GB00BNRRFY34
Ticker: SLNC
WKN: A3GXNS

The Issuer formally announced by RNS on March 23, 2022, a reduction in the management fee to 0.0% p.a. and additional staking rewards of 3.0% p.a.

“At CoinShares, we have an aggressive strategy in place to drive the overall growth of the company as well as the digital asset ecosystem as a whole,” said CoinShares CEO, Jean-Marie Mognetti. “An integral piece of our growth process is establishing strategic partnerships with top-tier firms that allow us to provide our investors with additional value and increase our institutional offering, giving our clients additional market penetration. A shared goal of FTX and CoinShares is to offer institutions means of access to cryptocurrency markets and through this partnership, both companies will be able to leverage their industry-leading technology to bring innovative products to the market.”

The unique staking mechanism allows the Issuer to share staking rewards with investors by reducing the management fee and increasing the Coin Entitlement of the ETP each day, as staking rewards accrue. Staked coins do not move from the secure custodian where they are stored, and the ETPs remain 100% physically-backed at all times.

Frank Spiteri, CoinShares Chief Revenue Officer concluded, “The feedback on our growing suite of innovative staked ETPs has been overwhelmingly positive, and collaborating with FTX to create the first Solana ETP with transparent staking rewards for investors allows us to double down on our commitment to providing investors with best-in-class regulated crypto products. Solana is one of the most requested exposures amongst our clients and SLNC is launching with 1M SOL in AUM; a level that meets institutions’ and corporates’ baseline for investment consideration.”

CoinShares to Acquire Global Blockchain Equity Index

July 6, 2021 Published by TheFintechBuzz.com

CoinShares International Limited (Nasdaq First North Growth Market: CS) (“CoinShares”), Europe’s largest digital asset investment firm, today announced it has acquired the ETF index business from Elwood Technologies. Through this platform, Elwood partnered with Invesco to launch the Invesco Elwood Global Blockchain Equity UCITS ETF (the “Invesco Blockchain ETF”), which provides exposure to internationally listed companies generating earnings from blockchain technology.

The Invesco Blockchain ETF has amassed over $1B in assets since its inception in 2019. In addition to index creation activity, Elwood built a best-in-class equity research team focused on companies in the digital assets space. The equity research unit will join CoinShares and benefit from the scale provided by this organisation. There will be no changes to the Elwood Index and no impact to the Invesco Blockchain ETF. Furthermore, it will continue to publish research on cryptocurrency and blockchain-related equities.

CoinShares CEO Jean-Marie Mognetti commented on today’s news, “As the popularity of thematic ETFs continues to grow, we have seen notable performance dispersion between strategies targeting similar exposures. With investors seeking exposure to cryptocurrencies as well as equities benefiting from blockchain technology, the Elwood Index and Invesco are natural partners for CoinShares. This acquisition marks another milestone for CoinShares as we execute on our strategic plan to generate shareholder value and become a global financial technology company. We look forward to welcoming Elwood’s index platform as the newest addition to the CoinShares team.”

The collaboration between CoinShares and Invesco will further bridge the gap between traditional asset management and cryptocurrencies whilst broadening both firms’ connectivity with global institutional investors and allocators. With $1,505B assets under management as at May 31, 2021, Invesco is one of the world’s largest asset managers offering a comprehensive range of active, passive and alternative investment capabilities, and was the world’s first institutional asset manager to introduce a blockchain-focused thematic ETF via its partnership with Elwood in March 2019.

Elwood Technologies CEO James Stickland added “Elwood is proud to have created the Elwood Global Blockchain Equity Index. This transaction enables Elwood to focus on its core mission to provide world class technology infrastructure for the digital assets market. We are very excited about the opportunities in this rapidly growing area.”

CoinShares reported £17.1M in Q1 asset management revenues from its digital asset ETP business, and recently launched bitcoin and ethereum ETFs in collaboration with 3iQ, and made a strategic investment in a new ESG-focused investment management company in the United States, Viridi Funds.

Gary Buxton, Head of EMEA ETFs at Invesco, concluded: “We believe that blockchain technology and crypto assets will continue to evolve and play an increasingly significant, mainstream role across business, finance and society. The ongoing success and growth of the Invesco Elwood Global Blockchain Equity ETF is a testament to the sector’s momentum and the compelling opportunities for investors. We have enjoyed our three-year collaboration with Elwood and are looking forward to building on this partnership with CoinShares.”

Technical note:

On July 5, 2021, CoinShares International Limited entered into a sale and purchase agreement (the “SPA”) to acquire the entire issued share capital in Elwood Asset Management Services Limited from its parent company, Elwood Capital Management Limited (“ECML”) for $17M. The transaction will settle via an equity swap, through the issuance of 1,298,322 new ordinary shares at a price of $13.09 per share, and is expected to complete in the second week of July upon admission of the consideration shares to trading. The SPA contains customary vendor and purchaser representations and covenants. Upon completion, the consideration shares received by ECML will be subject to a standard 12 month lock up. CoinShares will own the intellectual property and existing contracts relating to Elwood’s index business, including several products currently under development with Invesco.

CoinShares Integrates Armanino’s Attestation Service into CoinShares Physical Bitcoin

February 10, 2021 Published by TheBlockchainExaminer.com

CoinShares, Europe’s largest digital asset manager with $4 billion in AUM, today announced that it will be offering an attestation service for its new physically backed Exchange Traded Product (ETP), CoinShares Physical Bitcoin (Ticker: BITC), via Armanino’s Real-Time assurance application, TrustExplorer. This blockchain-enabled solution allows investors to independently verify the bitcoin backing BITC through viewable and downloadable attest reports that are generated daily.

BITC has been well received by the marketplace with total volumes exceeding $23M in the first 14 days of trading. Through the integration of Armanino’s on-demand attestation services, CoinShares offers investors enhanced visibility into the underlying bitcoin of its BITC product. This capacity for independent verification of assets further advances CoinShares’ mission to bring tailored investment products to the digital asset marketplace, which offer unparalleled security and transparency, therefore bridging the gap between institutional finance and digital assets.

CoinShares’ Head of Product, Townsend Lansing, commented, “Our team at CoinShares is dedicated to utilising innovative technology to continue our mission of bringing trust and transparency to the ETP space. As we first pioneered with our XBT Provider product line, which has $3.8 billion in AUM, we are now bringing this same innovation to our new product line, which was built with the needs of institutional allocators in mind.”

Armanino is a top 25 accounting firm specialising in digital assets. The TrustExplorer application leverages blockchain technology to independently verify the amount of bitcoin physically backing the ETP match the Issuer’s liabilities. This unique application allows CoinShares to advance the industry by adding another layer of transparency to its best-in-class physical ETP structure.

Noah Buxton, Director and Blockchain & Digital Asset Practice Leader at Armanino LLP added, “CoinShares Physical represents an exciting capital markets innovation, and we are evermore confident that such platforms must be met and served with innovative assurance tools. Anything less would be a disservice to the potential of digital assets. Since onboarding CoinShares XBT Provider ETPs in 2020, we have seen TrustExplorer’s ability to provide highly accurate attest reporting. We are humbled to continue as an important ingredient in the recipe of CoinShares’ valuable, compliant and transparent digital asset products.”

CoinShares appoints Compass Financial Technologies to serve as independent calculation agent for XBT Provider Certificates

November 3, 2020 Published by TheBlockchainExaminer.com

CoinShares, Europe’s largest crypto asset management firm with over $1 billion in assets under management, has today announced that the official prices of the XBT Provider range of ETPs will be calculated and published by Compass Financial Technologies on Bloomberg and Reuters. Compass FT is a financial services company specialising in the design, calculation and publication of market benchmarks and financial indices and is registered as a benchmarks administrator under EU Benchmark Regulations.

The prices to be published on Bloomberg and Refinitiv fall under the following ticker symbols:

XBT Certificate	Bloomberg Code	Refinitiv Code
Bitcoin Tracker One	XBTPBTCS Index	.XBTPBTCS
Bitcoin Tracker Euro	XBTPBTCE Index	.XBTPBTCE
Ether Tracker One	XBTPETHS Index	.XBTPETHS
Ether Tracker Euro	XBTPETHE Index	.XBTPETHE
Litecoin Tracker One	XBTPLTCS Index	.XBTPLTCS
Litecoin Tracker Euro	XBTPLTCE Index	.XBTPLTCE
XRP Tracker One	XBTPXRPS Index	.XBTPXRPS
XRP Tracker Euro	XBTPXRPE Index	.XBTPXRPE

Townsend Lansing, head of product at CoinShares commented “Transparency and trust are important considerations when selecting investment products, and our investors expect and deserve the best support possible. We are pleased to appoint Compass Financial as our independent calculation agent for XBT Provider, which we believe will provide investors with greater certainty and transparency as to the pricing for XBT Certificates.”

The XBT Provider line of products offers investors exposure to cryptocurrency via simple access to financial instruments listed on traditional, regulated securities exchanges. This suite of exchange traded products was created in a structure familiar to investors, allowing them to be bought and sold during trading hours alongside traditional securities. The appointment of Compass Financial is the latest in a series of improvements made to the platform in recent months aimed at increasing transparency and providing a more streamlined user experience for investors.

In September, CoinShares announced that investors would be able to take advantage of Armanino LLP‘s Real Time Assurance application, which allows on-demand, real-time reports on collateral holdings that follow top industry standards backed by a top 25 independent public accounting firm.

In August, the company also announced that the digital assets held to physically back the XBT Provider range of products would be safeguarded by Komainu, the first hybrid custodian for institutional digital asset investors created by the Japanese investment bank, Nomura, digital asset manager, CoinShares and digital asset security company, Ledger.

Date	Number of shares acquired	Lowest price paid (SEK)	Highest price paid (SEK)	Volume weighted average (SEK)
31 March 2023	3,520	33.05	34.55	33.54
03 April 2023	3,545	33.25	34.30	34.22
	7,065

Tag: CoinShares

Buy-backs and cancellation of shares in CoinShares International Limited

Related Documents

Buy-backs of shares in CoinShares International Limited

CoinShares Announces Interim Results for the Period ended 31 March 2022

CoinShares and FTX Announce Partnership with the launch of CoinShares FTX Physical Staked Solana ETP

CoinShares to Acquire Global Blockchain Equity Index

CoinShares Integrates Armanino’s Attestation Service into CoinShares Physical Bitcoin

CoinShares appoints Compass Financial Technologies to serve as independent calculation agent for XBT Provider Certificates

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