Prior to Kraken's IPO, Republic Europe offered European retail investors the opportunity to indirectly hold Kraken shares.
PANews reported on January 27th that Republic Europe, the European arm of investment platform Republic, announced the launch of a special purpose vehicle (SPV) product focused on Kraken, enabling European retail investors to indirectly hold interests in the privately held cryptocurrency exchange. This move is described as a pioneering private market product for individual investors in Europe. The SPV will provide investors with indirect equity exposure to the US-based Kraken exchange. Investors participating in the SPV will indirectly hold Kraken equity and potentially benefit from its future performance.
Kraken secretly filed for an IPO in the US last November at a valuation of approximately $20 billion, and subsequently acquired tokenization company Backed Finance in December as part of its pre-IPO strategy.
You May Also Like
ETHZilla unleashes fresh $350M war chest for Ethereum bets
ETHZilla CEO McAndrew Rudisill said the company’s strategy is to deploy Ether on the Ethereum network through layer-2 protocols and tokenizing real-world assets. Ether treasury company ETHZilla is looking to raise another $350 million through new convertible bonds, with funds marked for more Ether purchases and generating yield through investments in the ecosystem. ETHZilla chairman and CEO McAndrew Rudisill said on Monday that the company’s strategy is to deploy Ether (ETH) in “cash-flowing assets” on the Ethereum network through layer-2 protocols and tokenizing real-world assets. A growing number of digital asset companies are moving past simply holding crypto and looking to generate yields through active participation in the ecosystem, which crypto executives told Cointelegraph in August, could help spark a DeFi Summer 2.0.Read more
Record highs and market implications – Rabobank
