CoinShares has added to its investment portfolio with the acquisition of Global Blockchain Equity. The business is an ETF index firm that is aimed at helping companies that are using blockchain tech to generate revenue. This is mainly through increasing the international exposure of the companies and helping them to gain new opportunities.Â
By adding this business to its already significant portfolio, CoinShares makes another step into the world of blockchain technology and cryptocurrency. As a digital investment firm, it’s no surprise that this is an area it’s starting to focus on more heavily.Â
Global Blockchain Equity was set up initially by Invesco and Elwood Technologies. It’s also known as the Invesco Blockchain ETF. Over the two years that it has been in operation, the company has collected assets worth more than $1 billion. It’s mainly focused on developing companies that operate with blockchain.Â
The acquisition by CoinShares is unlikely to cause any changes to how Global Blockchain Equity will operate. The only real impact on its operations is that the size of CoinShares will be able to increase the scope of Global Blockchain Equity. The deal is expected to allow significant growth and the company will be able to expand on this.
Jean-Marie Mognetti, CEO of CoinShares, commented:
With investors seeking exposure to cryptocurrencies as well as equities benefiting from blockchain technology, the Elwood Index and Invesco are natural partners for CoinShares.
Despite the obvious benefit of revenue generation, it is not purely a financial decision behind the acquisition. As CoinShares is dedicated to digital assets, adding a blockchain-based company is a move that will allow it to keep up with how the market is evolving.
Blockchain tech and cryptocurrency are two fundamental aspects of the digital landscape moving forwards. By adding this new asset, CoinShares is ensuring that it doesn’t get left behind in terms of digital infrastructure. This is a view that is shared by many people involved in the acquisition.
James Stickland, CEO of Elwood Technologies added:
James Stickland Source: LinkedIn
This transaction enables Elwood to focus on its core mission to provide world class technology infrastructure for the digital assets market.
CoinShares recently announced that three of its recently launched physically-backed exchange traded products (ETPs), including CoinShares Physical Bitcoin, Ethereum and Litecoin, cross-listed on Germany’s Börse Xetra exchange.
Having gained a degree in economics, Alan entered the world of financial services starting his career in London and then moving to New York for a number of years. His first post at a City bank saw him establish a reputation as an forex trader. Having recently returned from New York after eight successful years, Alan is now a prosperous trader in his own right concentrating on commodities and forex.
