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CoinShares
International Limited, a leading digital asset investment company, has
announced the rebranding of its long-standing crypto ETP brand, XBT Provider,
to “CoinShares XBT Provider.” This move aligns with the company’s
group strategy and sets the stage for expansion in the second half of 2024.
CoinShares Doubles Down on
Nordic Market with XBT Provider Rebrand
Since its
inception in 2015, CoinShares XBT Provider has been a pioneer in the crypto ETP
space, offering the world’s first Bitcoin and Ethereum-based exchange-traded
products. With current assets under management (AUM) of $3.4 billion, the
company has established itself as a trusted choice for Nordic investors seeking
regulated crypto exposure.
As part of
its growth strategy, CoinShares is actively exploring new opportunities
tailored specifically for the Nordic market. Townsend Lansing, Head of Product at CoinShares, commented
on the potential for a new suite of “next-generation” products in the region.
“Our
CoinShares XBT Provider ETPs have delivered exposure to BTC and ETH for nearly
a decade,” he added.
🔎 What are the differences between Spot #Bitcoin ETFs and Physical Bitcoin ETPs? As the term ‘ETF’ has becomes more widely used by crypto investors around the world, it’s time to take stock. Read more: https://t.co/YzFdXmO8zR pic.twitter.com/jC0VXXg983
— CoinShares (@CoinSharesCo) June 12, 2024
CoinShares’
decision to concentrate on the Nordic market follows a period of significant
growth and expansion for the company. The firm recently reported its most
successful financial quarter to date and finalized the
purchase of Valkyrie Funds, a US-based investment company. This
strategic acquisition has considerably enhanced CoinShares’ international
reach and strengthened its ability to operate effectively in key markets
worldwide.
“Across
Europe and the US, we are seeing increased demand for crypto exposure via
regulated products as investors consider the potential benefits of including
digital assets as part of their overall portfolio,” commented Frank Spiteri,
Head of Asset Management at CoinShares.
Spiteri
added that the current rebrand “is the start of an exciting new chapter” for CoinShares’
Nordic operations.
This isn’t
the only recent rebranding within the cryptocurrency sector. Less than two
months ago, CoinW Exchange, a well-known entity in the digital asset trading
sphere, marked its sixth anniversary with significant changes. Based in Dubai,
the exchange launched a rebranding campaign, which coincided with
the introduction of its Proprietary Trading (Prop Trading) product.
Two weeks
prior, Okcoin Europe Ltd. took a decisive step to strengthen its position in
Europe by changing its brand to OKX and naming Erald Ghoos as the new European
General Manager.
This article was written by Damian Chmiel at www.financemagnates.com.
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