Key Takeaways
- • CoinShares International Limited (Nasdaq Stockholm: CS; OTCQX: CNSRF) launched CoinShares Hedge Fund Solutions on September 22, 2023, its first offering of private investment products to qualified U.S. investors.
- • CoinShares Capital LLC, a FINRA-registered broker-dealer and wholly owned subsidiary, will conduct marketing activities to qualified U.S. investors.
- • Lewis Fellas, a manager with 23 years of industry experience (seven in digital assets), was appointed Head of CoinShares Hedge Fund Solutions.
- • The division spans beta and alpha strategies with hybrids in between, and the firm says each product is designed to mitigate counterparty risk.
- • CEO Jean-Marie Mognetti framed the launch as a return to CoinShares' roots in its original commodity hedge fund, Global Advisors.
Summary
CoinShares, the Jersey-headquartered alternative asset manager specialising in digital assets, announced on September 22, 2023 the launch of its hedge fund division, CoinShares Hedge Fund Solutions. According to the company's announcement, this marks the first time CoinShares will make its offerings accessible to qualified U.S. investors through a range of private investment products, extending its expansion beyond its established European base. Coverage from other outlets described the firm as one of Europe's largest crypto asset managers entering the U.S. market.
The division will offer a diverse range of products across beta and alpha strategies, with hybrids in between, aimed at institutional clients seeking a well-rounded and optimised crypto portfolio. CoinShares Capital LLC, a wholly owned subsidiary registered with FINRA as a broker-dealer, will conduct marketing activities to qualified U.S. investors in support of the strategies and products. The company said the new products are designed to mitigate counterparty risk while giving investors clearly defined asset class and strategy exposures.
Lewis Fellas has been appointed Head of CoinShares Hedge Fund Solutions. He has 23 years of asset management experience, seven of them in digital assets, and the division will draw on the firm's trading and quantitative teams. In a statement, CEO Jean-Marie Mognetti said demand for actively managed digital asset exposure is a natural progression amid a macro environment marked by interest rates and inflation. Fellas said the division reflects the team's knowledge of digital assets and cited the return of interest rate-driven volatility as an opportunity the new funds plan to capture.
The launch is framed by CoinShares as a return to its roots. The firm began as the commodity hedge fund Global Advisors and later founded the Global Advisors Bitcoin Investment Fund (GABI) in 2014, which operated until 2017. The company has also engaged in crypto markets through its proprietary trading arm since 2016.
The division will offer a diverse range of products across beta and alpha strategies, with hybrids in between, aimed at institutional clients seeking a well-rounded and optimised crypto portfolio. CoinShares Capital LLC, a wholly owned subsidiary registered with FINRA as a broker-dealer, will conduct marketing activities to qualified U.S. investors in support of the strategies and products. The company said the new products are designed to mitigate counterparty risk while giving investors clearly defined asset class and strategy exposures.
Lewis Fellas has been appointed Head of CoinShares Hedge Fund Solutions. He has 23 years of asset management experience, seven of them in digital assets, and the division will draw on the firm's trading and quantitative teams. In a statement, CEO Jean-Marie Mognetti said demand for actively managed digital asset exposure is a natural progression amid a macro environment marked by interest rates and inflation. Fellas said the division reflects the team's knowledge of digital assets and cited the return of interest rate-driven volatility as an opportunity the new funds plan to capture.
The launch is framed by CoinShares as a return to its roots. The firm began as the commodity hedge fund Global Advisors and later founded the Global Advisors Bitcoin Investment Fund (GABI) in 2014, which operated until 2017. The company has also engaged in crypto markets through its proprietary trading arm since 2016.
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