Digital asset manager CoinShares has completed its acquisition of Napoleon Asset Management, which will allow it to promote its products and services across the European Union.

Paris-based Napoleon Asset Management is licensed by French regulator Autorité des Marchés Financiers (AMF) under the Alternative Investment Fund Manager (AIFM) directive, which gives "passporting" permission to market products and services across the EU.
An AIFM license doesn't include authorization of the funds themselves – only passporting for the funds to be marketed across borders within the EU.
Jersey-based CoinShares agreed to purchase the broader Napoleon Group late last year for 13.9 million euros ($14.5 million) in cash and stock. The acquisition of Napoleon Asset Management, however, was subject to approval by the AMF, which was granted on June 28.
CoinShares, which claims to be Europe's largest digital asset firm, can now offer its exchange-traded products and other investment vehicles across the EU, giving it a much-needed source of extra revenue.
In May, CoinShares reported that its first-quarter income fall by 45%, compared with a year earlier, a trend that may get worse given the sharp downturn in the crypto markets over the last month.

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CoinShares Completes Napoleon Acquisition, Can Now Promote Products Across EU

The deal was subject to approval by France's AMF, which was granted on June 28.

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