CoinShares, a company that manages over $1 billion worth of crypto assets is opening up its reserves to a public audit. The service is provided by an accounting firm Armanino, which will be providing an updated state of reservers for various electronically traded products issued by XBT Provider, a CoinShares subsidiary. In a Cointelegraph interview, CoinShares COO Richard Nash said that he hopes this will give it an advantage over its rivals like Grayscale:
“We're able to bring comfort to our stakeholders, whether that be investors or people looking at us through the normal regulatory lens.”