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$3B Trading Platform Rebranded Amid High Profile Acquisition

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Digital asset manager CoinShares has nearly completed acquisition of a trading shop that generated $1.5 billion in volume this past quarter.

European crypto asset manager, CoinShares, announced the launch of its new trading business, CoinShares Capital Markets, or CSCM, on May 7.

The subsidiary comprises a rebranding of GABI Trading, with CoinShares now entering into the final stages of acquiring the firm. 

In 2019, the firm processed more than $3 billion worth of trades while it was an active proprietary trading shop owned by Global Advisors Group. Trade activity has accelerated in 2020, with the firm reporting over $1.5 billion in notional volume for the first quarter. The company has operated for six years in total.

CoinShares rebrands $3 bln trading shop

To complement the exchange-traded products already provided by CoinShares, CSCM now offers a suite of trading tools and services, including electronic trading, liquidity provisioning, and lending and borrowing products.

The platform also offers “bespoke hedging and risk management solutions for miners, exchanges, brokers, crypto funds, and other specialized firms.”

In addition to the firm, CoinShares has acquired CSCM’s portfolio of products and services, “including proprietary trading technology and trading systems.”

CoinShares’ new leadership drive ‘strategic realignment’

CoinShares describes the acquisition as “part of a larger strategic realignment under the firm’s new leadership.”

“Professional investors in the digital asset market desperately need systems that provide efficiency, scale, and sophistication,” stated CoinShares’ CSO Meltum Demirors, adding: “already our clients are responding very positively to this new offering.”

“By joining together, our clients will benefit from a broad suite of global, cross-asset trading technology and services," said CoinShares CEO, Jean-Marie Mognetti.

“We look forward to leveraging the experience of the team, which complements our knowledge of the digital asset market structure,” she added. 

CoinShares bullish on halving

A report published by CoinShares earlier this week predicted that the halving will have a bullish effect on the supply and demand dynamic underpinning the crypto markets, despite the event likely wreaking havoc on small miners. He wrote:

“The pairing of a 50% reduction in available new supply with a reduction in the proportion of ongoing supply offered for sale in the market might drastically reduce the persistent selling pressure caused by miners.“

“These dynamics, in combination with the macroeconomic tailwinds presented by global governments, and the existing and growing inflows into passive bitcoin investment products we’re currently observing, could cause a perfect storm for the bitcoin price over the mid- to long-term,” he added.

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