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- CoinShares becomes the first European asset manager to receive an MiCA license, enhancing its market position.
- MiCA license enables CoinShares to expand its services to key European markets, including Germany and Luxembourg.
- The company’s shares rose 1.7% after the MiCA approval, demonstrating strong market confidence and growth.
CoinShares, a crypto asset manager, has become the first to be approved under Markets in Crypto Assets (MiCA) regulation in the European Union. CoinShares, which is based in Saint Helier, Jersey, is the first crypto asset manager on the European continent to be approved to receive this license. The authorization allows the company to offer portfolio management services in all 27 EU states within the same regulatory framework.
The license, issued by the Autorité des Marchés Financiers (AMF), will allow CoinShares to widen one of its services to other countries, including Germany, the Netherlands, and Luxembourg. The company strives to become more active in the European market and provide more people with fully regulated crypto investment products. Under MiCA, CoinShares will be able to operate within a harmonized and clear framework in the EU, making it more certain in the regulatory environment.
CoinShares’ Regulatory Milestone
CoinShares is already licensed according to the MiFID and AIFM directives of the EU. With the MiCA approval, CoinShares will be the first substantial European asset manager that obtain all three licenses. This achievement makes CoinShares stand out in the highly competitive European crypto asset management market. It enhances the reputation of the company as a reliable actor in the growing industry of regulated cryptocurrency assets.
Jean-Marie Mognetti, CoinShares CEO, welcomed the MiCA license, saying, MiCA authorization is a historic step not only for CoinShares. But also for the whole European digital asset ecosystem. He added that the new regulatory environment offers clarity and stability to the industry, where CoinShares can channel the emerging demand for regulated cryptocurrency investments within Europe.
Also Read: Coinbase Launches Perpetual Futures in U.S. Amid Rising Regulatory Clarity
First European Asset Manager
Despite other cryptocurrency companies, including Coinbase, Bybit, OKX, and Crypto.com, acquiring MiCA licenses. CoinShares is the first European asset management company with this regulatory status. However, the difference supports the top-of-market position of CoinShares with the €33 trillion ($38.7 trillion) valued European market.
CoinShares is a publicly traded cryptocurrency investment company that was founded in 2013. And comprises over 9 billion funds under management. After its MiCA approval was announced, the company’s stock value increased by 1.7% to 120 krona ($12.66). The stock of CoinShares is up over 46 per cent year-to-date.
However, the MiCA license allows CoinShares to take a new step and become the first major player in the regulated European cryptocurrency investment market.
