CoinShares, a digital asset investment company, has received approval from the Autorite des Marches Financiers, the largest financial regulator in France, to acquire Napolean Asset Management.
The agreement will enable CoinShares to offer Alternative Investment Fund Manager (AIFM) services and exchange-traded products (ETP) to the EU market.
At the end of November last year, CoinShares applied to acquire French Fintech company Napolean and its subsidiaries.
They told Napolean that when the deal is closed, its employees will become part of the CoinShares family and operate according to its rules and market infrastructure.
In a recent announcement, the digital asset management company revealed the acquisition of “Napolean Asset Management,” a company that provides cryptocurrency solutions to professional investors.
CoinShares offers many services in the field of digital assets, including exposure to exchange-traded products (ETP)
With the latest initiative, the company has raised hopes that it will be able to offer its expertise and solutions to a growing number of investors in the European Union.
The company’s total revenue during the first three months of 2022 was about $35 million. By comparison, this number was close to $50 million during the first quarter of 2021.
As of March 31, 2022, CoinShares assets under management (AUM) were approximately $5 billion, after which they shrank to $4.4 billion.
