France Eases Retail Crypto Rules as Europe Unlocks Access for Millions

December 9, 2025-AMF doctrine shift follows UK and Nordic moves;
CoinShares leads the European market with a 32% AUM share
CoinShares International Limited ("CoinShares" or "the Group") (Nasdaq Stockholm: CS; USOTCQX: CNSRF) - a leading global asset manager specialising in digital assets, which has announced a merger with Vine Hill Capital Investment Corp (Nasdaq: VCIC), welcomes France's AMF decision to open retail access to regulated crypto ETNs.

Europe's crypto exchange-traded product market is entering a new growth phase as regulators and major financial institutions across the continent move to expand retail investor access.

Key developments:

France: The AMF adapted its doctrine to permit retail marketing of crypto-indexed ETNs, removing warning-label requirements for products that satisfy all eligibility conditions under the updated AMF Position 2010-05.

UK: The FCA lifted its retail crypto ETN ban effective October 8, 2025, opening access to approximately 7 million UK crypto holders.

France Eases Retail Crypto Rules as Europe Unlocks Access for Millions

Archax Executes First After-Hours Transaction of its Tokenized Canary HBR ETF on Hedera Mainnet

December 5, 2025-Archax, the UK/EU-regulated digital asset platform, today announced the tokenization and first onchain transaction of the Canary HBR ETF on the Hedera Network. The completed out-of-hours transaction is a landmark achievement in blockchain-based finance: an ETF linked to Hedera's native token, tokenized and transacting on the Hedera Network itself, outside of traditional market hours.