CoinShares believes that the change in trading venue to Nasdaq Stockholm will give them increased visibility and investor exposure.
On Monday, December 19, one of Europe’s largest standing crypto investment firms CoinShares announced a change in its listing venue to Nasdaq Stockholm. Note that the admission of CoinShares stock for trading on Nasdaq Stockholm doesn’t mean the issuance of new shares.
Decision of CoinShares to Choose Nasdaq Stockholm
For now, it just means a change in the trading venue for the crypto investment firm. CoinShares believes that the change in trading venue to Nasdaq Stockholm will give them increased visibility and investor exposure. This will further help them to expand and grow their market share. Jean-Marie Mognetti, Chief Executive Officer of CoinShares said that they were excited to start a new trading journey on Nasdaq Stockholm’s main market. He further added:
“We have made significant strides this year in challenging market conditions, strengthening our management team and increasing awareness of the company and our various achievements. We are excited to take on the challenges of the market with a view to emerging as the institutional leader in the ever-evolving digital asset sector. With our strong foundation and ambitious vision, we are confident that we will succeed in our mission to become the trusted partner for institutions looking to invest in the future of finance.”
Mognetti also added that CoinShares is working to emerge as a leading full-service digital asset investment and trading group, globally. CoinShares offers a broad range of services in the crypto space including investment management, securities, trading, and other consumer products to a wide array of its clients.
Headquartered in Jersey, CoinShares also has a strong presence in France, Sweden, the UK, and the US. It also operates under the regulatory norms of the respective jurisdictions.
Recovery from Losses
Amid the crypto winter of 2022 and the collapse of the Terra ecosystem this year, CoinShares saw a strong recovery during the third quarter. Amid the collapse of the Terra ecosystem in the second quarter of this year, CoinShares saw a 128% drop in its adjusted earnings.
But during the third quarter, CoinShares made a modest recovery in its revenue and balance sheet. Last year, CoinShares also launched its algorithmic trading tool and plans to integrate it with some of the major crypto exchanges in the market.
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