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Crypto Fund CoinShares Jumps 33% in First Day on Nasdaq's Swedish Exchange
The share price implies a market value for the cryptocurrency-focused investment firm of $860 million.
CoinShares, a European digital asset investment firm, jumped 33% in its first day of trading on the Nasdaq First North Growth Market in Sweden.
STORY CONTINUES BELOW
According to the exchange's website, the shares (under the ticker CS) started the day trading around 81.9 Swedish krone (SEK) and ended at 109.12 SEK, implying a market capitalization of 7.3 billion SEK ($860 million).
As reported earlier by CoinDesk, the shares were initially offered at 44.90 SEK, so the exchange's closing price implies that holders at that price level have already doubled their money, and then some.
Damanick Dantes
Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.
