CoinShares shares were previously listed on the Nasdaq First North Growth Market, an alternative exchange for small and medium-sized businesses.
Leading cryptocurrency investment firm CoinShares has started trading on Nasdaq Stockholm, the main exchange in the Nordic countries.
CoinShares officially announced on December 19, the first day of trading on the main market of Nasdaq Stockholm, that CoinShares shares would be traded on the stock exchange under the ticker symbol CS.
The recent trading debut marks a change in listing for CoinShares shares. Previously, CS shares were traded on the Nasdaq First North Growth Market, an alternative exchange for small and medium-sized businesses in Europe. CoinShares first went public by listing its shares on the Nasdaq First North Growth Market in March 2021.
"CoinShares shareholders are not required to take any action in connection with the listing change," the company noted.
According to Jean-Marie Mognetti, CEO of CoinShares, the change in trading platform aims to underline the company's commitment to making the company the "first full-service investment and trading group for assets". digital". He stated:
"We believe the listing change will allow us to benefit from increased visibility and exposure to 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 probabilities" of uplisting. "We look forward to the continued growth and development of the company, supported by increased investor visibility and an international presence in the cryptofinance community," Kostyál added.
The CoinShares IPO was completed 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 since.
Also Read: Nasdaq Warns Bitcoin Mining Firm Bitfarms of Share Price Weakness
At the time of writing, CS shares are trading at SEK 21 ($2), down about 2% since their listing on Nasdaq Stockholm.
All time price chart of CoinShares stock. Source: Trading View
The CoinShares trading platform exchange comes amid the current cryptocurrency market crisis triggered by the outage of crypto exchange FTX.
As previously reported, CoinShares was not significantly affected 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 financial position remains strong.
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