Coinshares recently benefits from the booming interest in European crypto products

Von Krypto News Österreich

  • The company defended its fees and said that they would remain unchanged because assets and income panted
  • "Everyone is doing an ETP today - everyone wants to do one," said a manager of Coinhares

Thanks to the explosive demand for investment products for digital assets, the European cryptocurrency administrator Coinshares Assets on Tuesday.

CoinShares reported an increase in the managed ETP assets (marketed products) 1.6 billion pounds, almost $ 2.2 billion, compared to the previous year between the fourth quarter of 2020 and the fourth quarter of 2021. The total result of the asset manager for 2021 was £ 114.3 million or $ 15.6 million in 2020.

"Due to the correlation with the prices for digital assets and the all -time highs that we have experienced in the course of the year, our products benefited significantly from it," said Richard Nash, Chief Financial Officer from Coinshares, at the conference call on Tuesday.

The ETPS of CoinShares generated fees of £ 78.5 million or $ 106.7 million in the fourth quarter. The asset manager has already launched new ETPs this quarter, including the first such product with staking rewards that build on the blockchains of Tezos and Polkadot.

Coinshares is not the only asset manager who benefits from the growing interest in ETPs for digital assets.

fidelity International was the youngest issuer who offered a European ETP in Germany with the introduction of his Fidelity Physical Bitcoin ETP (FBTC) on the German Börse Xetra-the cheapest European ETP of this type of 21Shares, the world's largest crypto ETP emittee, has had three new decentralized financial products (Defi) in the past few weeks brought.

asked about the competition, the executives of Coinhares admitted that the room is overcrowded.

"Everyone is doing an ETP today-everyone wants to do one," said Jean-Marie Mogetti, CEO of Coinshares. "I am aware of the competition and greet them because it is much easier for coinshares to show how well we do what we do when there is more than one person."

The growing competition will at least initially not affect the current fee structure of Coinshares, added Mogneti.

"I don't think we are able to hand over fees. You do not buy coin shares and only the products from Coinshares, you buy coin shares for the brand name," said Mognetti. "It's an all-in price ... you buy the specialist knowledge."

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The contribution "Coinshares Latest to Profit from Booming Interest in European Crypto Products" is not a financial advice.