Major cryptocurrency investment firm CoinShares has launched trading for the first time on NASDAQ Stockholm, the major stock exchange in the Nordic countries.

CoinShares officially announced on December 19, the first day of trading on the NASDAQ Stockholm Main Market, with CoinShares shares beginning to trade on the exchange under the ticker CS.

The last appearance of trading marks a change in where CoinShares shares are listed. Previously, CS shares traded on Nasdaq First Northern Growth, an alternative exchange for small and medium-sized companies in Europe. CoinShares first went public by listing its shares on the Nasdaq First North Growth Market in March 2021.

According to the recent announcement, there is no offering or issuance of new shares with respect to CoinShares shares that have been allowed to trade on NASDAQ Stockholm.

The company noted that “CoinShares shareholders do not need to take any action regarding the change of place of listing.”

According to Jean-Marie Mognetti, CEO of CoinShares, the change in trading venue is intended to underscore the company’s commitment to developing the company into a “leading full-service digital asset investment and trading group.” He said:

“We believe the change in listing venue will allow us to benefit from increased visibility and investor exposure while supporting our ambition to increase our market share.”
Adam Costial, head of European listings at Nasdaq, expressed confidence in the “growing opportunities” for the listing process. “We look forward to seeing further growth and development of the company supported by increased investor visibility and international exposure in the crypto finance community,” Costial added.

The CoinShares IPO took place in March 2021 at a fixed price of 44.9 Swedish Krona (SEK), or $5.3 USD per share. According to TradingView data, CS stock rose to an all-time high of 115 SEK, or $11, in April 2021 and has been falling ever since.

Related: Nasdaq Bitcoin Mining Firm Bitfarms Warns of Share Price Shortfall

At the time of writing, CS shares are trading at SEK 21 ($2), down about 2% since the beginning of trading on Nasdaq Stockholm.

CoinShares stock price chart all time. Source: TradingView
CoinShares’ change of trading location comes amid an ongoing cryptocurrency market crisis triggered by the failure of cryptocurrency exchange FTX.

As previously reported, CoinShares has not been significantly affected by the FTX infection due to the company’s limited exposure to the FTX exchange. CoinShares said it had total exposure to FTX of $31.5 million, underscoring that the company’s financials remain strong.

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