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Press Release

Tuesday, September 1, 2020

Armanino Provides Real-Time Attest to Leading Digital Asset Investment Firm CoinShares


Investors and Regulators Now Have Access to an Unprecedented Level of Transparency Through On-Demand Assurance of Its Digital Asset Products

SAN RAMON, Calif. (September 01, 2020) – Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S., now provides real-time attestation for CoinShares, Europe’s largest digital asset investment firm, and its more than $1B of assets under management. Through Armanino’s TrustExplorer™ assurance platform, investors can instantly access attest reports for CoinShares’ crypto asset exchange-traded products (ETPs) that are updated every 30 minutes.

“In the past, investors and regulators relied on yearly audit and compliance filings to support due diligence efforts. With TrustExplorer’s Real-Time Attest, we have reduced assurance windows from 365 days to less than a minute. Formal independent accountant reports are now just a click away, providing an unprecedented level of transparency,” said Noah Buxton, leader of Armanino’s Cryptocurrency & Digital Assets practice.

Public and open visibility into reserves, combined with on-demand attest reporting, creates a new standard of trust for the crypto and digital asset industry. Investment firms now have a reliable tool to demonstrate point-in-time reserve ratios to their customers, banking and insurance partners, regulators and prospective institutional partners under AICPA standards.

“In the current environment, investors are beginning to question how connected underlying assets like gold and digital assets are to passive investment vehicles," said Richard Nash, CFO of CoinShares. "To remain a trusted and transparent manager of digital assets, we opened our books to allow Armanino, one of the top U.S. accounting firms specializing in digital assets, to perform attest procedures over our products in real time using their blockchain-enabled solution. This allows for the assets held by CoinShares to be independently verified every 30 minutes, providing a level of transparency to our various stakeholders rarely seen both in the crypto markets and the traditional financial markets.”

Launched in 2019, Armanino’s innovative TrustExplorer leads the global market with the world’s first application of real-time attestation. Its other key capabilities include Trusted Node, a full archival mirror node API, and Proof of Reserves tools for crypto exchanges and custodians. Armanino is proud to serve top global exchanges, stablecoin issuers and protocols, including TrustToken, Hedera Hashgraph, Gate.io and CoinShares.

To learn more about TrustExplorer and how it can bring real-time attest and transparency to your organization, please visit: https://learn.armaninollp.com/trustexplorer-blockchain-contact/

You can view the CoinShares attest report page at: https://real-time-attest.trustexplorer.io/coinshares

About ArmaninoLLP
Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.