Crypto Asset Manager CoinShares Secures EU-Wide MiCA License
CoinShares, a Jersey-based crypto asset manager, has become the first firm in continental Europe to receive a license under the EU’s Markets in Crypto Assets (MiCA) regulation. This significant achievement, granted by France’s Autorité des Marchés Financiers (AMF), allows CoinShares to offer its crypto portfolio management services across all 27 EU member states under a single, unified regulatory framework.
This MiCA license complements CoinShares’ existing approvals under the EU’s MiFID and AIFM directives, making it the only major European asset manager to hold all three. This trifecta of regulatory compliance positions CoinShares uniquely within the €33 trillion European asset management market, paving the way for broader adoption of fully regulated cryptocurrency investment products.
The company, founded in 2013 and publicly traded on Nasdaq Stockholm, currently manages over $9 billion in assets. Its CEO, Jean-Marie Mognetti, highlighted the importance of this milestone, stating that MiCA provides a clear, harmonized regulatory structure across the EU, and CoinShares is proud to be the first continental European asset manager to fully meet these standards.
While CoinShares is the first continental European asset manager to receive this license, it’s important to note that other cryptocurrency firms have also secured MiCA licenses, including prominent exchanges like Coinbase, Bybit, OKX, and Crypto.com. This illustrates a growing trend of regulatory compliance within the cryptocurrency industry in Europe.
CoinShares’ successful acquisition of the MiCA license is expected to have a positive impact on its business. The company’s share price reflected this, rising 1.7% to 120 krona ($12.66) following the announcement, adding to its already impressive year-to-date growth of over 46%. This success underscores the increasing acceptance and integration of cryptocurrencies within the established financial landscape of Europe. The company’s existing passporting to countries such as Germany, the Netherlands, and Luxembourg indicates a potential for further expansion across the EU market. This development signals a major step forward for the European digital asset industry as a whole, fostering greater trust and transparency in the cryptocurrency space.
