CoinShares, Europe's largest digital asset investment firm, said it agreed to buy Elwood Technologies’ exchange-traded fund (ETF) index business for $17 million in shares.

The ETF business has a partnership with Invesco through the Invesco Elwood Global Blockchain Equity UCITS ETF, which has more than $1 billion of assets, CoinShares said in a statement.
The purchase also gives CoinShares Elwood’s equity-research team, which focuses on digital asset companies.
Elwood Asset Management is owned by and manages the person digital assets of billionaire investor Alan Howard.
Following the disposal to CoinShares, Elwood will focus on providing technology infrastructure for the digital assets market, CEO James Stickland said in the statement.
Elwood partner Invesco – an Atlanta-based investment-management firm with $1.5 trillion in assets – filed two crypto-focused ETFs for approval by the U.S. Securities and Exchange Commission last month.

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CoinShares to Buy Elwood's ETF Index Business for $17M

The purchase also gives CoinShares access to Elwood’s equity-research team.

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