CoinShares shares were previously listed on the Nasdaq First North Growth Market, an alternative exchange for small and medium-sized companies.
Leading cryptocurrency investment firm CoinShares has made its debut on Nasdaq Stockholm, the leading stock exchange in the Nordics.

CoinShares officially announced on December 19, the first day of trading on Nasdaq Stockholm’s main market, that CoinShares shares will be traded on the exchange under the ticker symbol CS.

The recent trading debut marks a change in listing venue for CoinShares shares. Previously, CS shares were traded on the Nasdaq First North Growth Market, an alternative exchange for small and medium-sized companies in Europe. CoinShares first went public by listing its shares on the Nasdaq First North Growth Market in March 2021.

According to the recent announcement, there is no offering or issuance of new shares in connection with the admission of CoinShares shares to trading on Nasdaq Stockholm.

“CoinShares shareholders are not required to take any action regarding the listing change,” the company noted.

According to CoinShares CEO Jean-Marie Mognetti, the change in trading platform is intended to underscore the company’s commitment to making the company the “first service-based trading and investing group for digital assets.” complete”. He explained:

“We believe the change in listing location will allow us to benefit from increased visibility and exposure with investors while supporting our quest to increase our market share.”
Adam Kostyál, Head of European Listings at Nasdaq, said he was confident in the “increased opportunities” with uplisting. “We look forward to seeing the company’s growth and development, supported by increased investor visibility and an international presence within the cryptofinance community,” added Kostyál.

CoinShares’ IPO closed in March 2021 at a fixed price of 44.9 Swedish Krona (SEK), or $5.3 per share. According to data from TradingView, CS stock hit an all-time high of SEK 115 or $11 in April 2021 and has been steadily declining ever since.

Also Read: Nasdaq Warns Bitcoin Mining Firm Bitfarms About Insufficient Stock Price

At the time of writing, CS shares are trading at SEK 21 ($2), down about 2% since their Nasdaq Stockholm debut.

CoinShares stock chart of all time. Source: Trade View
The CoinShares trading venue change comes amid the current crisis in the cryptocurrency market, which was triggered by the failure of crypto exchange FTX.

As previously reported, CoinShares was not significantly impacted by the FTX contagion due to the company’s limited exposure to the FTX exchange. CoinShares said its total exposure to FTX was $31.5 million, ensuring the company’s finances remain strong.

Source: CoinTelegraph