According to a press release published on 6 July, CoinShares has acquired an ETF index business, which was a joint project between Elwood Technologies and Invesco created to provide exposure to internationally listed companies generating earnings from blockchain technologies. The Invesco Blockchain ETF has amassed over $1 billion in assets since 2019.
Alongside the index, Elwood launched an equity research team focused on companies in the digital assets space. The equity research unit will join CoinShares following the acquisition, but there will be no changes to the Elwood Index and no impact on the Invesco Blockchain ETF.
CoinShares will acquire the entire issued capital in Elwood Asset Management Services for $17 million. The transaction will settle via equity swap through the issuance of new shares and is expected to settle in the second week of July.
Jean-Marie Mognetti, the CEO of CoinShares, said that Elwood Index and Invesco have presented themselves as perfect partners to CoinShares as its investors began seeking more exposure to cryptocurrencies and blockchain technology.
“This acquisition marks another milestone for CoinShares as we execute on our strategic plan to generate shareholder value and become a global financial technology company,” she said in the company’s press release.
CoinShares reported $23.7 million in revenues from its digital asset ETP business in Q1. The company recently launched Bitcoin, Ethereum, and Litecoin ETPs, which have all been listed on Deutsche Börse.