Daniel Masters, formerly of JP Morgan and now the Executive Chairman of Coinshares and a non-executive council member of the Tezos Foundation has announced on Tezos Commons Teztalks that Tezos will be listed on Coinshares within 6 months.
Coinshares is Europe’s largest digital asset manager, operating in the USA, UK, Sweden, Channel Islands, Switzerland and Asia.
Coinshares have several aspects to their business including Exchange Traded Note programs that offer investors that don’t have access to crypto markets, or are more traditional investors, a way to get exposure to cryptocurrency, through things like pension structures.
Coinshares operate two entities, XBT Digital Provider and Coinshares Digital Securities. Coinshares have over $4 billion invested in those two vehicles making Coinshares second only to Grayscale in investor capital and holding half a % of all the cryptocurrency in the world.
Coinshares are also market makers, doing around $10 billion in market making in 2020 and they expect this to mirror in 2021.
They are also venture capitalists and own stakes in around 20 companies. They are owners of a Gold stablecoin called DGLD (Digital Gold) and a wrapped version on Ethereum called (WDGLD).
Coinshares And Tezos
When asked on the TezTalks Podcast episode here whether Coinshares would launch an ETP product for Tezos Daniel Masters stated:
“The answer is yes. I think we’ve already published that prospectus. The Coinshares ETP program is mostly out of Sweden and we’ve had a lot of regulatory pushback there. Our business has become a victim of it’s own success. When we had $15 million in the Bitcoin ETP in 2015 nobody cared. Now you have $4 billion, you become a very big dog in that dog park.
We’ve had to raise our game a lot in Sweden, where most of that stuff is issued, but we’ve had a lot of success in Switzerland. I believe the Coinshares Digital Securities prospectus, which is public already, has Tezos as an ETP.
There is a macro document that governs all the cryptos that we want to issue. Then each of those cryptos has set final times, like a timesheet, short one, that then goes. Whatever is on our prospectus and I believe Tezos is on it, we will roll them all out over the next 6 months”.
XTZ News did a little bit of digging and found the prospectus here.