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CoinShares is Now the Owner of Napoleon Asset Management

Image Source: Axel Rangel/Blockworks

The third quarter appeared to be lightning up for CoinShares as the digital assets manager has newly acquired Napoleon Asset Manager. The crypto firm took to its Twitter page to announce the newly achieved feat today.

Interestingly, this is the first Alternative Investment Fund Manager (AIFM)-regulated firm that CoinShares will be acquiring. Napoleon Asset Management, a French fintech firm is an associate of the Napoleon Group, a digital asset software developer. 

Initially, CoinShares planned on acquiring the whole shares of the fintech company at $14.5 million. This agreement which was inked nine months ago was meant to be a sales and purchase agreement (SPA). It wasn’t until June 30th that the European asset manager finally agreed on the acquisition terms for the purchase.

CoinShares’ acquisition of Napoleon AM became possible after Autorité des Marchés Financiers (AMF) approved the transaction. Also, the European asset manager is keen on expanding into a fully operative crypto investment company. 

For CoinShares, running its activities under a strongly regulated structure is pertinent, hence, the purchase of Napoleon Group last year. CoinShares decided on this purchase due to a robust belief that Napoleon’s culture aligns with its outlined goals.

CoinShares advocates for regularized and authorized framework for investments and trades. AIFM license is one of the documents which takes assets managers through a rigorous process. 

CoinShares Stand to Benefit from Napoleon’s Deal

Acquisition of an AIFM license was part of Napoleon’s efforts to uphold its regulatory standards. Holders are permitted to offer AIFM-compliant products and services. They also hold the right to sell their products and services all over the European Union. 

CoinShares now has such rights in addition to the exchange-traded products (ETPs) that it currently offers. CEO of CoinShares, Jean-Marie Mognetti, affirms that the acquisition of Napoleon AM will rightly influence investors’ safety. 

In other news, Bitcoin (BTC) manager Grayscale recently launched its first crypto-backed exchange-traded fund (ETF) product in Europe. This new product is called Grayscale Future of Finance UCITS. 

Its launch will be executed in collaboration with Bloomberg. This service will be available to European subscribers and will be listed on Borsa Italiana, London Stock Exchange, and Deutsche Börse Xetra.

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