Crypto investment firm CoinShares debuts trading on Nasdaq Stockholm
According to CoinShares CEO Jean-Marie Mognetti, the change in trading venue aims to emphasize the company’s commitment to developing the firm into the “leading full-service digital asset investment and trading group.”
CS, CoinShares International listing page.
CoinShares has not been significantly impacted by the FTX contagion due to the company’s limited exposure to the FTX exchange. CoinShares said that its overall exposure to FTX amounted to $31.5 million, assuring that the firm’s financials remain strong.
That's of the order of 2% of its funds - possibly less at the time - so, although not ruinous, not clever either.
This was exposure to the FTX exchange itself, through tokens held, rather than as an investor. Still.
So the losses are proprietary assets, but that comes to about 10%.
CoinShares confirms robust financial health and quantifies limited exposure to the FTX Exchange
Define "robust". The market reacted, sending CS from 35 to 28 SEK within days - 20% drop.
Still, good to see these crypto funds exist.