CoinShares, Europe’s largest digital asset investment firm, today announced that is acquiring Elwood Technologies’ Exchange Traded Fund Index Business and its equity research unit in a US$17 million equity swap.

Fast facts

  • The deal will see CoinShares adding over US$1 billion in assets under management through the Invesco Elwood Global Blockchain Equity UCITS ETF, which provides exposure to internationally listed blockchain-related companies.
  • The collaboration between CoinShares and Invesco will further bridge the gap between traditional asset management and cryptocurrencies.
  • “As the popularity of thematic ETFs continues to grow, we have seen notable performance dispersion between strategies targeting similar exposures,” said CoinShares CEO Jean-Marie Mognetti in a statement. “With investors seeking exposure to cryptocurrencies as well as equities benefiting from blockchain technology, the Elwood Index and Invesco are natural partners for CoinShares.”
  • The acquisition, expected to be complete in mid-July, will see CoinShares acquire the entire issued share capital of Elwood Asset Management Services through the issuance of 1,298,322 new ordinary shares at a price of $13.09 per share. Elwood is owned by British hedge fund billionaire Alan Howard.