CoinShares International Completes Acquisition of Valkyrie Funds Following Approval of US Spot Bitcoin (BTC) ETF

CoinShares International Acquires Valkyrie Funds After Approval of the Firm’s US Spot Bitcoin (BTC) ETF

CoinShares International, a European digital investment group, is acquiring US digital asset management firm Valkyrie Funds following the approval of Valkyrie’s US spot market Bitcoin (BTC) exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC).

According to a press release, CoinShares exercised its option to acquire Valkyrie Funds as a direct result of the SEC’s decision. The move aligns with CoinShares’ strategy to expand its digital asset offerings in the US market.

CoinShares CEO Jean-Marie Mognetti stated that acquiring Valkyrie Funds aims to extend their European success in the US and provide American investors with access to regulated digital asset products. This expansion reflects CoinShares’ ambition to become a global leader in the digital asset space.

SEC Approves BTC ETFs

The SEC’s recent decision to approve several BTC ETFs after years of rejections has created a connection between Wall Street and the digital assets industry. Investors can now purchase shares and gain exposure to BTC without directly buying it.

The regulatory agency approved all 11 applications for spot market BTC ETFs, including those from VanEck, BlackRock, ARK Invest, Invesco, Fidelity, Franklin Templeton, and Grayscale.

Hot Take: CoinShares Expands into the US Market with Valkyrie Acquisition

CoinShares International’s acquisition of Valkyrie Funds comes after the SEC’s approval of Valkyrie’s US spot market Bitcoin ETF. This move allows CoinShares to extend its success in Europe to the US market and offer American investors access to regulated digital asset products. The SEC’s decision to approve BTC ETFs marks a significant milestone, bridging the gap between Wall Street and the digital assets industry. Investors can now gain exposure to Bitcoin without directly owning it. CoinShares’ acquisition of Valkyrie Funds demonstrates its ambition to become a global leader in the digital asset space and expand its offerings in the US.