With an aim to expand the range of crypto products, CoinShares, Europe’s leading digital asset management firm, announced the listing of the company’s physically-backed Polkadot exchange-traded product (ETP) on Switzerland’s SIX Swiss exchange.
CoinShares highlighted that the cross-listing of the staked Polkadot will support Europe-based investors through a broad range of digital assets. Under a regulated environment, CoinShares aims to increase its product list.
The recent announcement from CoinShares came after the company reported strong financial results for Q4 and full-year 2021. According to Townsend Lansing, the Head of Product at CoinShares, the latest listing will increase the adoption of digital assets.
"The SIX Swiss Exchange was one of the first regulated exchanges in Europe to allow for the trading of digital asset ETPs, and Swiss investors continue to show strong interest in investing in digital assets via listed products. We are excited to list our innovative physical-backed staked Polkadot ETP in Switzerland and provide a wider audience with a means to further involve themselves in the cryptocurrency ecosystem,” Lansing said.
In October last year, CoinShares announced a strategic investment in Switzerland-based Flow Bank.
Financial Results
For 2021, CoinShares reported strong growth in its income, EBITDA, and the value of assets under management. As of 31 December 2021, the company’s ETP assets under management stood at £3.3 billion, compared to £1.7 billion on 31 December 2020.
“CoinShares has maintained the momentum we experienced moving into 2021 over the entire year, including this most recent quarter. Adjusted EBITDA for Q4 was £32.9 million, whilst adjusted EBITDA for the year sits at £121.7 million, an increase of more than 400% versus the year ended December 2020. This performance confirms the CoinShares business model’s resilience and ability to scale,” Jean-Marie Mognetti, the Chief Executive Officer of CoinShares, commented on the latest results.
