CoinShares, a leading European digital asset investment firm, is capitalizing on growing institutional demand through its suite of physically-backed Exchange-Traded Products (ETPs). Founded in 2013, the company has established itself as a bridge between traditional finance and the cryptocurrency market, managing billions in assets for institutional and individual investors seeking regulated exposure.
The core of its offering is the CoinShares Physical product line, which includes ETPs tracking major cryptocurrencies. These products are backed by the actual underlying assets held in cold storage by Komainu, a licensed institutional custodian formed as a joint venture with Nomura and Ledger. This structure provides investors with indirect ownership of real crypto, differentiating it from synthetic derivatives.
The current product range includes: CoinShares Physical Bitcoin (BITC), CoinShares Physical Ethereum (ETHE), CoinShares Physical XRP, CoinShares Physical Litecoin, CoinShares Physical Staked Solana, CoinShares Physical Staked Cardano, and CoinShares Physical Staked Tezos. The staked products offer investors exposure to both price appreciation and on-chain staking rewards. These ETPs are listed on major regulated European exchanges like Euronext Amsterdam, Xetra, and SIX Swiss Exchange.
Performance of these products has mirrored the broader crypto market. After significant declines from 2022 peaks, CoinShares ETPs rebounded strongly in 2023 and 2024, buoyed by renewed institutional interest, the launch of U.S. spot Bitcoin ETFs, and events like the Bitcoin halving. The addition of staked ETPs for assets like Solana and Cardano represents a key product evolution, offering a yield component for long-term holders.
Institutional ownership is a significant driver. According to 13F filings, institutional ownership of Bitcoin ETFs increased by 12% in Q3 2025. Globally, crypto ETF inflows reached a substantial $50.77 billion in 2025, significantly boosting total Assets Under Management (AUM). A specific example is the BRRR Bitcoin ETF, which maintains a strong AUM of approximately $447 million with a competitive 0.25% expense ratio.
CoinShares operates in a competitive European ETP market alongside firms like 21Shares and ETC Group. Its vertically integrated approach, which includes in-house research and custody infrastructure, along with its status as a publicly traded company on Nasdaq Stockholm, differentiates its offering. The company also publishes a widely-read weekly digital asset fund flows report, enhancing its credibility as an institutional voice.
While offering accessibility and security, CoinShares ETPs carry inherent crypto market risks, including high volatility and regulatory uncertainty under evolving frameworks like the EU's MiCA. The products are designed primarily for European institutional investors and retail investors seeking regulated, custodial exposure to digital assets through traditional brokerage accounts, and are not available to ordinary U.S. investors.
