CoinShares obtains MiCA license, what’s next for the asset management firm?

European digital asset firm CoinShares has become the first continental European regulated asset management company to be granted a MiCA license. What does the license entail?

According to a recent announcement, CoinShares Asset Management was granted authorization from the Markets in Crypto-Assets regulation. This approval was given to its French branch, CoinShares Asset Management, and it allows the firm to fully manage and advise on crypto investments across the European Union.

The recent addition of such a license makes CoinShares the first asset management firm to receive triple regulatory license status. CoinShares already had two other key financial licenses.

The first one is the Alternative Investment Fund Management license that was granted by the Undertakings for Collective Investment in Transferable Securities management and the MiFID license that allows the firm to give portfolio management and investment advice on traditional financial instruments

The MiCA authorization grants CoinShares the ability to provide institutional-level portfolio management services across all crypto asset classes and investment vehicle types. The firm can now offer its asset management services to countries in the European Union such as France, Germany, Cyprus, Ireland, Lithuania, Luxembourg, Malta, and the Netherlands.

Co-Founder and CEO of CoinShares, Jean-Marie Mognetti considers the authorization from the AMF as a “pivotal milestone” for the European digital asset industry.

“With MiCA, we now have a clear, harmonised structure across the EU, and CoinShares is proud to be the first in continental Europe to meet that standard as a fully regulated asset manager,” said Mognetti.

Established in 2013, CoinShares has managed over $9 billion in assets and operates in several countries. It is publicly listed and regulated in Europe and the U.S., offering services to companies, institutions, and individual investors in both digital and traditional financial markets.

What is a MiCA license?

A MiCA license allows a company to legally offer crypto-related services like managing crypto investment portfolios, giving advice on crypto, or running crypto platforms across the EU. However, they must abide by strict rules for investor protection, transparency, and financial stability in order to retain the license.

Therefore, with the recent MiCA Authorization, CoinShares can now manage crypto-related portfolios and offer advice on crypto asset management. With a MiCA license, a company can now “passport” its services across the entire EU under one unified rulebook.