Jean-Marie Mognetti on CoinShares' US Listing, Crypto Theses, and Market Dynamics

CoinShares' US Market Entry Strategy

• 🚀 CoinShares is using a SPAC listing to accelerate its expansion and establish a presence in the US market, differentiating itself from typical SPAC usage.
• 💡 The company positions itself as a crypto-native asset management firm with institutional discipline, distinct from infrastructure-focused crypto IPOs.
• 🎯 CoinShares aims to guide investors through their journey, helping them maximize investment value.

Core Cryptocurrency Theses

• 🔑 CoinShares' investment journey began with Bitcoin in 2014, validating it as a core thesis.
• 💡 The company was the first to launch products on Ethereum and has since expanded to include Solana, following market capitalization and narrative trends.
• 🧠 Investment experts at CoinShares focus on educating investors about the valuable positions and underlying investment theses for each coin.

Significance of the US Market for Crypto

• 🌎 Despite cryptocurrencies trading 24/7 globally, the US remains the largest total addressable market.
• 📊 Even with major institutions like JP Morgan and BlackRock assuming a 5% allocation to crypto, the penetration rate for crypto ETFs is less than 0.10% of total AUM.
• 📈 CoinShares aims to grow within this significant market to capitalize on its potential.

Market Volatility and Federal Reserve Policy

• 📉 Cryptocurrency volatility has decreased over the years, from 120% annualized to 50-60% realized.
• 📈 Positive tailwinds from regulation and Federal Reserve policy have supported the crypto market.
• 💎 There is a strong demand for hard assets, making Bitcoin a clear winner in this environment.