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Crypto Fund CoinShares Jumps 33% in First Day on Nasdaq's Swedish Exchange

The share price implies a market value for the cryptocurrency-focused investment firm of $860 million.

Mar 11, 2021 at 5:56 p.m. UTC
Updated Sep 14, 2021 at 12:24 p.m. UTC

CoinShares, a European digital asset investment firm, jumped 33% in its first day of trading on the Nasdaq First North Growth Market in Sweden.

According to the exchange's website, the shares (under the ticker CS) started the day trading around 81.9 Swedish krone (SEK) and ended at 109.12 SEK, implying a market capitalization of 7.3 billion SEK ($860 million).

As reported earlier by CoinDesk, the shares were initially offered at 44.90 SEK, so the exchange's closing price implies that holders at that price level have already doubled their money, and then some.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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