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European Crypto Asset Manager CoinShares to Enter U.S. Hedge Fund Fray

Crypto asset manager CoinShares (CS) is establishing a hedge fund unit for qualified U.S. investors, marking an expansion outside its European base. The St. Helier, Jersey-based company aims to provide institutional investors with actively managed exposure to digital assets, according to an announcement on Friday. CEO Jean-Marie Mognetti described the move as "a natural progression", given the "changing macro environment prominently marked by interest rates and inflation." A report by accounting firm PricewaterhouseCoopers (PwC) in July found that the proportion of traditional hedge funds investing in crypto assets fell to 29% from 37% in the previous 12 months.

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