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CoinShares to Buy Elwood's ETF Index Business for $17M
The purchase also gives CoinShares access to Elwood’s equity-research team.
Updated Mar 8, 2024, 4:29 p.m. Published Jul 6, 2021, 8:00 a.m.
CoinShares, Europe's largest digital asset investment firm, said it agreed to buy Elwood Technologies’ exchange-traded fund (ETF) index business for $17 million in shares.
- The ETF business has a partnership with Invesco through the Invesco Elwood Global Blockchain Equity UCITS ETF, which has more than $1 billion of assets, CoinShares said in a statement.
- The purchase also gives CoinShares Elwood’s equity-research team, which focuses on digital asset companies.
- Elwood Asset Management is owned by and manages the person digital assets of billionaire investor Alan Howard.
- Following the disposal to CoinShares, Elwood will focus on providing technology infrastructure for the digital assets market, CEO James Stickland said in the statement.
- Elwood partner Invesco – an Atlanta-based investment-management firm with $1.5 trillion in assets – filed two crypto-focused ETFs for approval by the U.S. Securities and Exchange Commission last month.
Read more: CoinShares First-Quarter Earnings More Than Quadruple
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