British Investment Trust bought a stake in Kraken

- Advertisement -

RIT Capital Parners investment trust with a capital of 3.8 billion pounds ($ 5.3 billion), managed by J. Rothschild Capital Management, bought a stake in the American cryptocurrency exchange Kraken.

The purchase became known at the webinar of the broker Numis Securities, held at the end of March. Numis CEO Ewan Lovett-Turner said the purchase took place in the secondary market as “RIT Capital found this investment attractive.”

- Advertisement -

It is not yet known how many Kraken shares and at what price were purchased by the British trust, and accordingly the purchase volume is also unknown. Most likely, the trust bought Kraken’s stake in the hope of a significant return after the cryptocurrency exchange entered the stock market.

A letter to investors published on April 12 notes that Kraken is “one of the largest cryptocurrency exchanges in the world, founded in 2011. It has more than 6 million clients and ranks 4th in terms of trading volume ”.

- Advertisement -

Kraken, similar to the other American exchange Coinbase, is expected to conduct a direct listing on the stock exchange. This move is planned for 2022. Exchange CEO Jesse Powell expects the company’s capitalization to exceed $ 10 billion after entering the stock market.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Hot Topics

Related Articles