What NapoleonX does

CoinShares PLC is a publicly listed European asset manager (Nasdaq Stockholm: CS; ISIN JE00BS6SC522) specializing in digital assets. Founded in 2014 and headquartered in St Helier, Jersey, the company has built a four-pillar product platform. The core pillar is Crypto ETPs — regulated exchange-traded products including Ethereum, Solana, and Sei Staking ETPs — that allow investors to access digital assets through traditional brokers just as with stocks and ETFs. The second pillar, Active Strategies, consists of systematic, quantitatively driven strategies for digital-asset markets. The third pillar is a set of transparent indices spanning equities, crypto, and gold. The fourth pillar is an internal Capital Markets operation providing trading technology, support services, and treasury management for the CoinShares Group.

The company generates recurring revenue primarily through management fees on its ETPs and active strategies, with additional transaction-related revenue from capital-markets services. Distribution is anchored by traditional broker networks and exchange trading, supplemented by content channels including The Node digital magazine and a weekly tailored newsletter. The customer base is institutional and long-term investors who require regulated wrappers, institutional-grade custody, and transparent staking rewards — pain points the company explicitly targets with 0% management fees on its staking ETPs and publicly listed governance.

CoinShares' competitive positioning rests on combining a regulated, listed-asset-manager status with first-mover brand recognition in European crypto ETP issuance since 2014. Vertical integration across product issuance, index construction, quantitative active management, and in-house trading/treasury infrastructure is intended to capture multiple monetization layers within the digital-asset value chain. Pricing is not publicly disclosed and revenue figures are not provided in the source material, but the breadth of the product surface and the AUM-linked fee model indicate a scaled, multi-product asset manager rather than a single-product issuer.

Name

NapoleonX

Legal name

CoinShares PLC

Website

https://napoleonx.ai/

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

CoinShares PLC is a publicly listed European asset manager specializing in digital assets, offering regulated Crypto ETPs (Ethereum, Solana, Sei staking variants), systematic Active Strategies, multi-asset Indices, and Capital Markets services to institutional and long-term investors via traditional broker networks.

Ownership category

akta.pro rank

Product category

Digital Asset Management

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto-Digital Asset Market Making (Spot & Derivatives) (FSACANAJ)

akta.pro secondary industries

Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), Institutional Spot Exchanges & Broker-Dealers (FSADAAAC)

Keywords

• Crypto ETPs
• Digital asset management
• Staking ETP products
• Investment indices
• Capital markets services

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Crypto ETP Management: Management fees from Crypto Exchange-Traded Products including Ethereum Staking ETP, Solana Staking ETP, and Sei Staking ETP
2. Active Strategy Management: Fees from actively managed systematic strategies for digital asset markets, backed by operational rigour of publicly listed asset manager
3. Index Products: Revenue from indices spanning traditional and digital asset investing
4. Capital Markets Services: Trading technology and support services revenue and treasury management functions

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

NapoleonX operates a regulated European digital asset management platform offering Crypto ETPs (including Ethereum, Solana and Sei Staking ETPs) that allow investors to access digital assets via traditional brokers. The firm also runs actively managed systematic strategies built by quantitative experts, publishes transparent indices spanning equities, crypto and gold, and provides capital markets trading technology and treasury management services for its group entities.

Product overview

CoinShares is a leading European asset manager specializing in digital assets. Since 2014, the company has offered innovative products connecting investors to crypto-assets. The product portfolio consists of Crypto ETPs (exchange-traded products providing simple access to digital assets via traditional brokers), Active Strategies (actively managed systematic strategies built by quantitative experts), Indices (covering equities, crypto, and gold), and Capital Markets services. Key sub-products include the Ethereum Staking ETP, Solana Staking ETP, and Sei Staking ETP — all regulated exchange-traded products offering staking rewards with institutional-grade custody. The company also publishes 'The Node,' a digital magazine covering digital assets and modern finance.

Differentiator

Problem solved

Functional benefit

Products and services

• Crypto ETPs Exchange-traded products providing simple access to digital assets, allowing investors to invest in cryptocurrencies via traditional brokers just as they would with stocks and ETFs.
• Active Strategies Actively managed, systematic strategies built by quantitative experts to capture opportunities in digital asset markets, backed by the operational rigour of a publicly listed asset manager.
• Indices Robust, transparent indices spanning traditional and digital asset investing, covering equities, crypto and gold.
• Capital Markets Market-leading trading technology and support services, performing treasury management function for the CoinShares Group.
• CoinShares Ethereum Staking ETP Access Ethereum through a regulated physical ETP combining institutional-grade custody with transparent staking rewards and 0% management fees.
• CoinShares Solana Staking ETP Access Solana — a high-performance blockchain with superior scalability, speed, and cost efficiency — through a regulated, exchange-traded product.
• CoinShares Sei Staking ETP Access Sei — a blockchain purpose-built for decentralized finance and gaming applications — through a regulated, exchange-traded product.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hashdex: Issuer of crypto index ETPs (notably Nasdaq-listed products) bridging traditional finance and digital assets. Directly comparable to CoinShares' index-based ETP offering and convergence thesis.
• 21Shares: Swiss-based crypto ETP issuer offering a broad suite of single-asset and thematic crypto exchange-traded products listed across European exchanges. Directly comparable to CoinShares' ETP franchise and staking products, and one of the most direct competitors in the European crypto ETP category.
• Bitwise Asset Management: Crypto-focused asset manager offering crypto index funds, ETPs, and separately managed accounts to financial advisors and institutions. Closely comparable on crypto-native active/index products, primarily U.S.-focused but expanding into Europe.
• Grayscale Investments: Largest crypto-focused asset manager offering single-asset trusts and growing ETP product set. Closely comparable in product category (crypto investment vehicles), though primarily U.S.-domiciled; represents the scaled crypto-native asset manager model CoinShares operates in.
• ETC Group: European crypto ETP issuer (Deutsche Börse-listed products) with both single-asset and thematic crypto exposure products. Competes head-to-head with CoinShares for broker shelf space and institutional AUM in the European market.

Broad incumbents

• Invesco: Global asset manager with European-listed crypto ETPs (notably Invesco CoinShares-backed products historically) and a broad traditional ETF platform. Comparable as an incumbent expanding into the crypto ETP category.
• VanEck: Diversified asset manager with an active crypto product line including ETPs and thematic funds. Comparable on crypto ETP offering and distribution; broader business spans traditional ETFs and hard-asset funds.
• WisdomTree: Global asset manager offering European-listed crypto ETPs alongside a broad traditional ETF/ETP platform. Comparable on the crypto ETP product surface but operates as a diversified incumbent rather than a digital-asset specialist.
• Fidelity Digital Assets: Institutional crypto custody and execution arm of Fidelity Investments. Comparable on the institutional-grade custody component embedded in CoinShares' staking ETPs, though operates a different primary model (custody/execution rather than ETP issuance).
• Galaxy Digital: Public crypto-focused financial services firm spanning asset management, trading, and advisory. Overlaps with CoinShares on crypto asset management and capital markets/trading, though broader mandate includes principal investments and corporate advisory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NapoleonX