CoinShares, Europe’s largest crypto asset manager, said trading in its ordinary shares on the OTCQX market, in the US, starts today under the ticker “CNSRF”
The cryptoasset investment and research platform believes that having its shares traded on the top tier of OTC markets will provide its investor with many benefits. That includes greater market visibility, easier trading access for US-based investors, and increased liquidity owing to a broader geographic pool of potential investors.
OTCQX trades many blue-chip level companies that are not listed on traditional exchanges. Companies traded there have to follow certain rules and criteria and are subject to their home market regulation.
The new listing comes nearly eight months after CoinShares began trading on the Nasdaq First North Growth Market. Following an oversubscribed public offering in March, the company was listed in the alternative stock exchange for small and medium-sized growth companies in Europe after.
CoinShares CEO, Jean-Marie Mognetti, commented on today’s news, “Securing trading in our stock through ordinary shares in the United States on the OTCQX Market is another milestone as we execute on our strategy to enhance shareholder value and expand access to the digital asset ecosystem. U.S. investors can now actively trade our stock with ease. As we move into 2022, the CoinShares team continues to expand into new markets, new product offerings, and new verticals as we build the financial technology firm of the future.”
Coinshares already operates publicly traded crypto exchange-traded-notes (ETNs), which are regulated by the Swedish FSA. The company says they offer retail investors more ‘familiar channels’ to invest in the growing digital asset economy. As a result, CoinShares reported that its assets under management (AUM) had ballooned during 2021.
In the first half of 2020, CoinShares rolled out physically-replicated crypto ETPs, including the Physical Bitcoin ETP (BITC), Physical Ethereum ETP (ETHE) and Physical XRP (XRPL).
The Jersey-based firm states it plans to expand in other jurisdictions but still has a lot of work to do regarding dealing with regulators investigating digital assets.
