Coinshares, a large European investment company in cryptocurrency, obtained a license as part of the local regulatory framework, Markets in Crypto-Astets (Mica).
Coinshares received the Mica license through its French subsidiary, Coinshares Asset Management, the company announced on Wednesday.
With the license, Coinshares has become the “first continental company for managing regulated assets” to be qualified under the Mica, noted the announcement.
Coinshares, a large supplier of negotiated products in exchange for crypto (FTE) in Europe, has also widened its American presence since the acquisition of Valkyrie funds last year.
Triple Mix license
Following the acquisition of the new license, Coinshares now holds three regulatory licenses in Europe, in particular the MICA, the license of markets in the financial instruments (MIFID) and the license of alternative directors of investment fund managers (AIFM).
Coinshares said that it was the only manager of European continental assets with this triple license, allowing him to offer services in all the asset classes of the EU.
The Mica de Coinshares license, issued by the French authority of financial hamlets (AMF) Thursday, enabled Coinshares to offer portfolio management and advice on cryptographic assets in the EU. The MIFID license allows him to do the same for traditional financial instruments.
The AIFM license authorizes Coinshares to provide services in the alternative management of funds and delegated management under EU companies for collective investment in the transferable securities directive (UCITS).
An important step for the whole EU industry
According to the co-founder and CEO of Coinshares, Jean-Marie Mognetti, the acquisition of a Mica license marks an important step not only for Coinshares, but for the whole cryptographic industry in Europe.
“For too long, asset managers operating by crypto are limited to partial or improvised regulatory frameworks,” noted Mognetti, adding that the Mica has brought a “clear and harmonized structure through the EU”.
Coinshares stressed that his Mica license allows him to provide services in several EU jurisdictions, with operations currently passed out in France, Germany, Cyprus, Ireland, Lithuania, Luxembourg, Malta and the Netherlands.
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The announcement noted the possibility of extending authorization in all EU member states.
Coinshares makes movements in the United States
In addition to cement its position as key leader in industry in the EU, Coinshares also actively worked to compete with peers on the American market after being officially entered the market in 2023.
Since the introduction of the Bitcoin and ETF Etf (BTF) coinshares – a Fet Fets according to the Bitcoin (BTC) and Ether (ETH) – in the United States in October 2021, Coinshares launched three other cryptographic funds on the market.
The other funds include the coinshares Bitcoin Mining Etf (WGMI) launched in February 2022, the Bitcoin ETF spot, Bitcoin Etf coinshares (BRRR) and the Bitcoin Futures ETF (BTFX), launched respectively in January 2024 and February 2024.
After the acquisition of Valkyrie last year, Coinshares also actively applied for other ETF products in the United States, including an XRP potential ETF (XRP).
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