CoinShares Eyes Expansion into US Cryptocurrency Market through Potential Acquisition of Valkyrie ETFs

CoinShares Eyes Expansion into US Cryptocurrency Market through Potential Acquisition of Valkyrie ETFs

CoinShares to Expand into US Market with Acquisition Option

Digital asset manager CoinShares has announced securing an exclusive option to acquire Valkyrie Funds, the exchange-traded fund (ETF) division of Valkyrie Investments. The strategic acquisition option represents the next phase of CoinShares’ penetration into the US market, following the launch of CoinShares Hedge Fund Solutions in September of this year.

Acquisition Option for Valkyrie Funds

The option for CoinShares to acquire Valkyrie Funds is currently active and will be in force until March 31, 2024. However, the amount paid by the European asset manager for the option and the potential acquisition costs remain undisclosed.

CoinShares’ CEO Remarks on Expansion

CoinShares CEO Jean-Marie Mognetti highlighted the fragmented nature of the global ETF market and the trend expected to be replicated in the US. According to Mognetti, this divergence in market evolution poses both challenges and substantial opportunities. The acquisition option for Valkyrie is expected to serve as a catalyst, expediting CoinShares’ expansion into the US market and the broader global deployment of its expertise in digital asset management.

Brand Licensing Agreement and Future Plans

Under the acquisition option deal, the two companies have finalized a brand licensing agreement. Valkyrie Investments is granted a limited, revocable global license to use the “CoinShares” name for its S-1 filings with the SEC throughout the option period. If the agency greenlights the Valkyrie Bitcoin Fund, Valkyrie Investments intends to integrate the CoinShares name, marking CoinShares’ first venture into providing a mainstream crypto passive product in the US market. CoinShares also has a special option to buy 100% of Valkyrie Funds and associated rights, including those related to the Valkyrie Bitcoin Fund and other unreleased ETFs from Valkyrie Investments.

CoinShares Teams up With OKX and Komainu

The latest development comes days after CoinShares entered into a partnership with OKX and a partnership with custody provider Komainu for institutional segregated asset trading. The partnership aims to implement a robust legal structure and processes that alleviate counterparty risk while conducting high-volume trading.

Hot Take: CoinShares’ Strategic Move to Dominate The US Market

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CoinShares’ strategic acquisition option for Valkyrie Funds signifies a major move that can potentially dominate the US market as the crypto industry continues to expand. This partnership could bring premier digital asset products to American investors and further strengthen CoinShares’ foothold in the global digital asset management domain.

CoinShares Eyes Expansion into US Cryptocurrency Market through Potential Acquisition of Valkyrie ETFs
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