Home Crypto CoinShares to Acquire the ETF Index of Elwood Technologies, Owned by Ellen...

CoinShares to Acquire the ETF Index of Elwood Technologies, Owned by Ellen Howard for $17M

Elwood Technologies, the cryptocurrency firm of hedge fund big Allen Howard, offered its ETF index to CoinShares for $17 million.

According to the announcement from Coinshares Tuesday, the acquisition shall be settled by fairness swap and anticipating to be accomplished this week. CoinShares, Europe’s largest digital asset funding firm below the administration of one billion belongings, will problem 1,298,322 new frequent shares at $13.09 per share.

Elwood Technologies cooperated with Invesco to launch the Invesco Elwood Global Blockchain Equity UCITS ETF (Invesco Blockchain ETF) to present publicity to worldwide listed corporations, accumulating greater than $1 billion in belongings since its institution in 2019.

The acquisition is not going to have an effect on the pattern of Invesco Blockchain ETF and Elwood Index. As half of the acquisition, Elwood’s fairness analysis group specializing in digital belongings can even be part of CoinShares.

Elwood Technologies’s CEO James Stickland added that:

“Elwood is proud to have created the Elwood Global Blockchain Equity Index. This transaction allows Elwood to give attention to its core mission to present world class know-how infrastructure for the digital belongings market. We are very enthusiastic about the alternatives on this quickly rising space.”

Jean-Marie Mognetti additionally acknowledged that as folks’s funding curiosity in thematic ETFs will increase, this acquisition shall be one other milestone for CoinShares. He expressed his expectation and welcomed Elwood’s index platform to be part of the CoinShares group.

Jean-Marie Mognetti mentioned that:

“With traders in search of publicity to cryptocurrencies in addition to equities benefiting from blockchain know-how, the Elwood Index and Invesco are pure companions for CoinShares.”

Image supply: coinshares.com

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