Rick Coyle is a partner in Chapman’s Corporate and Securities Department and a member of the Investment Management Group. Rick focuses his practice on advising registered investment companies, registered investment advisers, index providers and broker-dealers on a variety of matters pertaining to the Investment Company Act of 1940, the Securities Act of 1933, the Investment Advisers Act of 1940 and other securities laws.

He is an experienced practitioner in the area of exchange-traded funds (ETFs), with extensive experience representing ETF sponsors and ETF fund complexes. His ETF clients include a wide range of asset managers, from startups to large, established firms. He has advised numerous ETF clients in launching novel products, including the first “defined outcome ETFs.” He is an experienced member of Chapman’s ETF team, which serves as fund counsel to over 350 ETFs with cumulative assets under management exceeding $160 billion.

Rick has advocated strongly on behalf of the digital asset and blockchain industry and advised numerous clients in matters relating to cryptocurrencies and blockchains. He has met with US Senators, members of the US House of Representatives, SEC Commissioners, and CFTC Commissioners regarding various initiatives and proposed legislation impacting the industry. He was the co-author of the Chamber of Digital Commerce's comprehensive report of the industry’s pursuit of a Bitcoin ETF approval by the SEC. He represented the ETF issuer that brought the first blockchain ETF and represents clients seeking to offer physically-backed bitcoin ETFs, ETFs principally investing in bitcoin and/or ether futures contracts, and other issues relating to funds which invest in cryptocurrency and the use of blockchains by asset managers and in securities offerings.

Rick also has significant experience with forming and providing ongoing advice to closed-end funds, interval funds, mutual funds and unit investment trusts. He has advised numerous clients regarding a wide variety of issues in building out their alternative fund product lines, including reorganizations and board matters. He has also assisted advisers undergoing change-of-control transactions and the mergers of investment companies.




University of Michigan Law School, J.D., cum laude

University of Michigan, B.A., Political Science




  • Panelist, 2023 Blockchain Summit Panel: Law & Blockchain, University of Illinois Gies College of Business, April 28, 2023.

  • Presenter, "SEC Pumps the Brakes on Bitcoin Funds," Chicago Bar Association, Investment Management Subcommittee Meeting, January 31, 2018.
  • Presenter, “California Court Applies “Tracing” Requirement to Actions Brought Against ETF Issuers Under Section 11 of the 1933 Act,” Chicago Bar Association, Investment Management Subcommittee Meeting, October 12, 2017.
  • Presenter, “SEC Approves New Continued Listing Standards for ETFs,” Chicago Bar Association, Investment Management Subcommittee Meeting, April 27, 2017.

We have always been focused on finance.

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