The cryptocurrency management firm CoinShares has acquired the ETF index business from Alan Howard's Elwood Technologies for $17 million. The firm said in an announcement, Elwood's equity research will also join CoinShares.
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The crypto management firm says the deal will have no impact to the Elwood Index and to the Invesco Blockchain ETF. CoinShares says its partnership with Invesco will "bridge the gap between traditional asset management and cryptocurrencies."
"This acquisition marks another milestone for CoinShares as we execute on our strategic plan to generate shareholder value and become a global financial technology company," said CoinShares CEO Jean-Marie Mognetti.
As of May 31, 2021, Invesco held over $1,5 billion assets under management. CoinShares emphasizes this is one of the world's largest asset managers offering a comprehensive range of active, passive and alternative investment capabilities.
Earlier in May, a cryptocurrency lender called Ledn closed a $30 million Series A round led by Kingsway Capital. According to the firm, Alan Howard also participated in the funding round.
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