Back to the list

CoinShares Rebrands XBT Provider, Targets Nordic Expansion

source-logo  financemagnates.com 17 June 2024 09:10, UTC

CoinShares International Limited, a leading digital asset investment company, has announced the rebranding of its long-standing crypto ETP brand, XBT Provider, to "CoinShares XBT Provider." This move aligns with the company's group strategy and sets the stage for expansion in the second half of 2024.

CoinShares Doubles Down on Nordic Market with XBT Provider Rebrand

Since its inception in 2015, CoinShares XBT Provider has been a pioneer in the crypto ETP space, offering the world's first Bitcoin and Ethereum-based exchange-traded products. With current assets under management (AUM) of $3.4 billion, the company has established itself as a trusted choice for Nordic investors seeking regulated crypto exposure.

As part of its growth strategy, CoinShares is actively exploring new opportunities tailored specifically for the Nordic market. Townsend Lansing, Head of Product at CoinShares, commented on the potential for a new suite of “next-generation” products in the region.

“Our CoinShares XBT Provider ETPs have delivered exposure to BTC and ETH for nearly a decade,” he added.

🔎 What are the differences between Spot #Bitcoin ETFs and Physical Bitcoin ETPs? As the term 'ETF' has becomes more widely used by crypto investors around the world, it's time to take stock.

Read more: https://t.co/YzFdXmO8zR pic.twitter.com/jC0VXXg983

— CoinShares (@CoinSharesCo) June 12, 2024

CoinShares' decision to concentrate on the Nordic market follows a period of significant growth and expansion for the company. The firm recently reported its most successful financial quarter to date and finalized the purchase of Valkyrie Funds, a US-based investment company. This strategic acquisition has considerably enhanced CoinShares' international reach and strengthened its ability to operate effectively in key markets worldwide.

“Across Europe and the US, we are seeing increased demand for crypto exposure via regulated products as investors consider the potential benefits of including digital assets as part of their overall portfolio,” commented Frank Spiteri, Head of Asset Management at CoinShares.

Spiteri added that the current rebrand “is the start of an exciting new chapter” for CoinShares’ Nordic operations.

This isn't the only recent rebranding within the cryptocurrency sector. Less than two months ago, CoinW Exchange, a well-known entity in the digital asset trading sphere, marked its sixth anniversary with significant changes. Based in Dubai, the exchange launched a rebranding campaign, which coincided with the introduction of its Proprietary Trading (Prop Trading) product.

Two weeks prior, Okcoin Europe Ltd. took a decisive step to strengthen its position in Europe by changing its brand to OKX and naming Erald Ghoos as the new European General Manager.