CoinShares Exclusive Option to Acquire Valkyrie Funds
CoinShares, a leading European crypto ETF issuer, has secured an exclusive option to acquire Valkyrie Funds from now until its expiry on March 31, 2024. It is a strategic move towards market leadership and bolstering a strong presence in the US, strengthening to create a global one-stop-shop in digital asset investments. Bloomberg analyst says it’s a big move.
Acquisition of Valkyrie by CoinShares
According to a press release on November 16, CoinShares has secured an exclusive option to acquire Valkyrie Funds, the investment advisory business of Valkyrie Investments. The option to acquire Valkyrie Funds from Valkyrie Investments is active until March 31, 2024.
The acquisition of Valkyrie marks the entry of European crypto ETF issuer CoinShares into the U.S. market, strengthening digital asset management expertise globally.
Potential Acquisition of Valkyrie Funds by Coinshares
Bloomberg analyst James Seyffart asserts potential acquisition of Valkyrie Funds by Coinshares is a big move for the companies, which will also bring ETF expertise to the US. Furthermore, Valkyrie Investments plans to incorporate CoinShares’ name if the U.S. SEC approves the Valkyrie Bitcoin Fund.
Implications on BTC Price
Valkyrie has filed for a spot Bitcoin ETF with the U.S. SEC, with the conductive discussion hinting at potential approval triggering a massive rally in BTC price. BTC price pares earlier gains, falling more than 3% in the past 24 hours, with the price currently trading at $36,400.
Hot Take: What Does This Mean for You?
This strategic move by CoinShares has significant implications for digital asset investments and ETF expertise in both Europe and the US. If you’re interested in investing in cryptocurrencies or digital assets, it’s important to keep an eye on these developments as they may impact your investment decisions moving forward.
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