Crypto asset manager CoinShares is expanding into Europe's €26.3 trillion ($30 trillion) UCITS ecosystem by unveiling a new platform alongside the launch of the CoinShares Bitcoin Mining UCITS ETF.
In a statement released Tuesday, CoinShares said the new platform positions the firm to target major institutional investors across Europe, including pension funds, insurers, and private banks.
CoinShares said that the primary barrier to greater investment was the product wrapper, and many of these investors' mandates prevented holdings in debt securities — even those that are physically backed.
"The UCITS platform removes that constraint, allowing CoinShares to serve those same investors, and the far larger pool of capital behind them, in the format their mandates already accommodate," the company said in the statement.
UCITS — which stands for Undertakings for the Collective Investment in Transferable Securities — is a regulatory framework governing investment funds that can be marketed across the European Union.
