CoinShares, a prominent European cryptocurrency investment firm, has secured a license under the Markets in Crypto-Assets (MiCA) regulation in France. The license was granted to its French subsidiary, CoinShares Asset Management. This makes CoinShares the first regulated asset management company in continental Europe to be qualified under MiCA.
The MiCA license, issued by the French Autorité des Marchés Financiers (AMF) on July 23, 2025, allows CoinShares to offer portfolio management and advice on crypto assets within the EU. CoinShares now holds three regulatory licenses in Europe: MiCA, the Markets in Financial Instruments Directive (MiFID) license, and the Alternative Investment Fund Managers Directive (AIFM) license. CoinShares is the only continental European asset manager with this combination of licenses, enabling it to provide services across all EU asset classes. The MiFID license allows the firm to manage portfolios and offer investment advice on traditional financial instruments, while the AIFM license authorizes services in alternative fund management and delegated management under the EU's Undertakings for Collective Investment in Transferable Securities Directive (UCITS).
CoinShares co-founder and CEO Jean-Marie Mognetti stated that the MiCA license is a major milestone for both CoinShares and the entire crypto industry in Europe. Mognetti added that MiCA provides a "clear, harmonised structure across the EU," filling the regulatory gaps that have confined asset managers operating in crypto to "partial or improvised regulatory frameworks".
With the MiCA authorization, CoinShares can provide institutional-grade portfolio management services across all asset classes and investment vehicle types throughout the EU. CoinShares currently operates with passported services in eight EU countries, including France, Germany, Cyprus, Ireland, Lithuania, Luxembourg, Malta, and the Netherlands, and has the potential to extend its services across all EU member states. The company's triple license addresses a critical gap in the European crypto investment landscape, where many platforms operate without proper licensing or organizational structure. This ensures the necessary separation of duties between custody, administration, execution, and portfolio management functions.
In addition to strengthening its position in the EU, CoinShares has been expanding its presence in the U.S. market since 2023. CoinShares has launched several crypto funds in the U.S. market, including the CoinShares Bitcoin and Ether ETF (BTF), the CoinShares Bitcoin Mining ETF (WGMI), the spot Bitcoin ETF, CoinShares Bitcoin ETF (BRRR), and the Bitcoin Futures Leveraged ETF (BTFX). Following the acquisition of Valkyrie Funds last year, CoinShares has been actively applying for other ETF products in the U.S., including a potential spot XRP ETF.
