The Arrival of Cryptocurrency Stocks
In the past couple of years, there has been a dramatic increase in the number of cryptocurrency pure play companies listed on public markets. The first eight months of 2021 saw almost as many companies come to the market as 2019 and 2020 combined, including the IPO of the first true large cap pure play in this sector, Coinbase.
In this report, we show how, when and where these companies became listed and try to shed some light on a sector which has limited coverage from brokers and investment banks.
This report was produced by the CoinShares Index team, who manage the Elwood Blockchain Global Equity Index (BLOCK Index) which aims to offer exposure to listed companies that participate or have the potential to participate in the blockchain or cryptocurrency ecosystem. The index aims to capture the potential investment upside generated by earnings related to the adoption of blockchain technologies or cryptocurrency.
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