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CoinShares Bitcoin ETF
CoinShares Bitcoin ETF offers regulated spot Bitcoin exposure via European exchange-traded products since 2015.
CoinShares Bitcoin ETF
CoinShares International, a Jersey-based digital asset investment firm founded in 2013, launched its Bitcoin exchange-traded product on the Nasdaq Stockholm exchange in 2015. The CoinShares Bitcoin ETF (ticker: COIN) is one of several physically-backed ETPs the firm manages, alongside products tracking Ethereum, Litecoin, and broader crypto indexes. The wealth that seeded the initial product came from the firm's private placement and public listing on Nasdaq Stockholm, not a single family fortune. The CoinShares Bitcoin ETF provides stock-like exposure to spot Bitcoin, with assets custodied by Coinbase Custody Trust Company (per the firm's prospectus, 2024). The firm earns revenue through a management fee, typically 1.25% annually for its Bitcoin ETP, and does not engage in leverage, derivatives, or lending of the underlying asset. Geographic distribution covers European trading venues, including Germany's Xetra, Switzerland's SIX, and the Paris Euronext. Confirmed holdings are disclosed daily on CoinShares' website. CoinShares reported €3.5 billion in total assets under management across its crypto ETP lineup as of December 2024 (per the firm's monthly AUM report, January 2025). The firm employs over 100 people across offices in Jersey, London, Paris, and Stockholm. The CoinShares Bitcoin ETF is the largest component by AUM, though exact ETF-level figures are not separately published. A March 2024 operational event: CoinShares upgraded its Bitcoin ETP prospectus to comply with updated EU UCITS standards (per CoinShares press release, March 2024). CoinShares' structural differentiator is its multi-exchange listing approach: each ETP trades on multiple regulated European exchanges simultaneously, unlike US spot Bitcoin ETFs which are typically listed on a single exchange. The firm also operates a digital asset research division that publishes weekly data on crypto fund flows.
General information
Firm type
Exchange-Traded Fund Issuer
Year founded
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AUM
Undisclosed
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Frequently asked questions
Who runs investment decisions at CoinShares Bitcoin ETF?
The ETF's investment strategy is rules-based and passive, tracking the CoinShares Bitcoin Reference Rate. CoinShares International's executive team, led by CEO Jean-Marie Mognetti (appointed 2020), oversees the ETP product line. The firm's investment committee reviews index methodology and custody arrangements.
How does CoinShares source Bitcoin for its ETF?
The CoinShares Bitcoin ETF acquires Bitcoin through over-the-counter trades and liquidity providers, with all purchases executed on public exchanges. The firm uses Coinbase Custody Trust Company as the primary custodian (per the firm's prospectus, 2024).
Is CoinShares Bitcoin ETF structurally distinct from US spot Bitcoin ETFs?
Yes — CoinShares lists its Bitcoin ETP on multiple European exchanges (Nasdaq Stockholm, Xetra, SIX, Euronext), while US ETFs trade on a single exchange. CoinShares also offers physically redeemed units, allowing authorized participants to withdraw Bitcoin directly, a feature some US ETFs lack.
What management fees does CoinShares Bitcoin ETF charge?
The CoinShares Bitcoin ETF charges a management fee of 1.25% annually, according to the firm's prospectus. This fee is deducted from the fund's net asset value daily and covers custody, administration, and operational expenses.
Does CoinShares Bitcoin ETF engage in derivatives or lending?
No — the prospectus explicitly prohibits derivatives trading, lending of Bitcoin, or any form of leverage. The ETF holds only spot Bitcoin and cash equivalents.
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