Coinshares CEO says more wealth managers, private banks investing in Bitcoin

Coinshares CEO says more wealth managers, private banks investing in Bitcoin

CoinShares one of Europe's leading digital asset investment firm, announced that the Company's XBT Provider line of exchange traded products reached record trading volumes on Monday, January 4, 2021. With more than €162M ($202M) in XBT certificates changing hands tradedon the market's first day of trading in 2021, CoinShares had the highest volume traded in any European listed crypto ETP. XBT Provider is a Swedish-based issuer of exchange traded products listed on Nasdaq Stockholm AB - part of Nasdaq Inc - and is wholly owned by the CoinShares Group.

Bitcoin markets have seen a surge in activity demonstrated by Bitcoin crossing $30,000 on January 2, 2021 and its continued rally, hitting highs of $34,500. Over the past seven years CoinShares has set the standard for trust and transparency provided to investors, putting the Company in a unique position to bridge the gap between institutional investors and digital assets.

"We are seeing an unprecedented volume of interest in Bitcoin from institutional investors," said Frank Spiteri, CoinShares' Chief Revenue Officer. "As wealth managers, private banks and European institutions look to add Bitcoin to their portfolios, our ETPs are the logical choice. With over seven years of experience in the marketplace, CoinShares is one of the world's leading digital asset firms with unparalleled experience and expertise."

Chief Executive Officer at CoinShares, Jean-Marie Mognetti, added, "The narrative shift around Bitcoin over the last six months has been profound. Investors used to consider it a risk to allocate to bitcoin. Now it's a risk not to allocate to Bitcoin. As more investors look to Bitcoin as a viable investment option, our XBT Provider products continue to offer exposure to Bitcoin via traditional brokerage accounts across Europe, making it easy for investors of all types to gain exposure to Bitcoin without the premium associated with other products in the market or the risk of trading and securing your own assets."

Source: Coinshares
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