Digital Asset Unit of Investment Bank Cowen is Closing

Cowen Digital, the digital asset division launched by investment bank Cowen in March 2022, is shuttering operations.

The team at Cowen Digital stated in a message to clients that Wednesday would be their last day.

While they have been setting out to create a “premiere, full-service platform” to serve digital asset investing, the team is not sure how they will accomplish that going forward.

Cowen Digital expressed gratitude to TD Cowen for providing support and continued incubation of the business during its time with the firm.

TD Cowen was acquired by TD in last summer’s announced deal. No response was received to an email sent to Cowen seeking comment.