European investment company specialising in digital assets CoinShares International Limited announces that it has today received information stating that the Swiss Financial Market Supervisory Authority (FINMA) has opened bankruptcy proceedings against FlowBank SA with effect from 13 June 2024 at 8:00am.

As a consequence, FINMA has withdrawn the licence of FlowBank SA as a bank and securities dealer.

CoinShares’s exposure to FlowBank SA as a customer is seen as immaterial, with deposits totalling approximately £100,000.

There is no impact on any of the Group’s products or clients as a result of these proceedings, CoinShares stated.