CoinShares has exercised its option to acquire Valkyrie Funds LLC, the investment advisory arm of Valkyrie Investments Inc. This move is a response to the US Securities and Exchange Commission’s approval of Valkyrie’s spot Bitcoin ETF. The acquisition aligns with CoinShares’ strategy to expand its digital asset offerings in the US market.
Expanding Presence in the US
This acquisition is expected to increase CoinShares’ Assets Under Management (AUM) by approximately $110 million, reflecting the current AUM of Valkyrie’s existing ETF products. Upon completion, Valkyrie’s funds and operations will be integrated into the CoinShares group. CoinShares CEO Jean-Marie Mognetti aims to extend their European success in the US market and become a global leader in the digital asset space.
Awaiting Completion
The acquisition is pending completion of due diligence, legal agreements, and approval from CoinShares’ board. Valkyrie Funds will remain operationally independent until the acquisition is fully completed.
CoinShares secured an exclusive option to acquire Valkyrie Funds two months prior to this announcement. Under the acquisition deal, Valkyrie Investments was granted a limited license to use the name “CoinShares” for its filings with the SEC. This acquisition marks a promising new chapter for both companies in the American digital asset investment sphere.
CoinShares’ decision to acquire Valkyrie Funds demonstrates their commitment to expanding their presence in the US market. With the recent approval of Valkyrie’s spot Bitcoin ETF by the SEC, this acquisition allows CoinShares to offer regulated digital asset products to American investors. By integrating Valkyrie’s funds and operations, CoinShares aims to become a global leader in the digital asset space.
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