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CoinShares, a Leading European Crypto Asset Manager, Ventures into the U.S. Hedge Fund Arena

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Sep 25, 2023 at 09:03 am

CoinShares, a cryptocurrency asset management firm headquartered in St. Helier, Jersey, is embarking on a new venture by establishing a hedge fund division tailored for qualified U.S. investors. This strategic move signifies a significant expansion beyond its established European operations.

The company's objective is to offer institutional investors a platform for actively managed exposure to the realm of digital assets, as outlined in an announcement made last Friday. CEO Jean-Marie Mognetti framed this initiative as a natural step forward, driven by the evolving macroeconomic landscape characterized by shifts in interest rates and inflation.

Lewis Fellas, the head of CoinShares' hedge fund division, enthusiastically embraced the anticipated resurgence of interest rate-induced market volatility. He emphasized that their forthcoming fund offerings are meticulously crafted to not only minimize counterparty risk but also to provide investors with transparent exposure to specific asset classes and strategic approaches.

According to a report released by the accounting firm PricewaterhouseCoopers (PwC) in July, there has been a decline in the percentage of traditional hedge funds investing in cryptocurrency assets, dropping from 37% to 29% over the past year. Additionally, the report highlighted that nearly 25% of hedge funds are reevaluating their investment strategies due to the evolving regulatory landscape in the U.S. Approximately 12% of these funds are contemplating a potential relocation to jurisdictions known for their crypto-friendly regulatory frameworks.

Following this significant announcement, CoinShares witnessed a 2.2% surge in its stock value on the Stockholm stock exchange.

Read more: Unprecedented Crypto Exodus: CoinShares Unveils Record Outflows Amidst Regulatory Ripples

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