CoinShares Acquires Valkyrie Funds
CoinShares International Limited has announced its acquisition of Valkyrie Funds, a digital asset management investment company in the United States. The purchase is dependent on the approval of Valkyrie’s spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC).
If the acquisition is completed, CoinShares’ assets under management (AUM) will increase by approximately $110 million, adding to its current $4.5 billion AUM.
However, the deal is still pending completion of due diligence, legal agreements, and final approval from CoinShares’ board of directors. In the meantime, Valkyrie will maintain its operational independence.
“Once finalised, this will lead to the direct integration of Valkyrie’s funds and operations into the CoinShares group.”
CoinShares release
Valkyrie’s ETF Applications
In June 2023, a subsidiary of Valkyrie Investments applied to the SEC to launch a Bitcoin-based ETF. This ETF aims to provide a cost-effective and convenient way for investors to access Bitcoin.
Additionally, in July 2023, Valkyrie filed with the SEC to launch an Ethereum (ETH) ETF that would invest in Ethereum futures on the CME, as well as high-quality instruments like U.S. Treasury bonds.
Hot Take: CoinShares Expands with Valkyrie Acquisition
CoinShares’ acquisition of Valkyrie Funds marks a significant expansion for the company in the digital asset management space. With this acquisition pending approval from regulatory authorities, CoinShares aims to integrate Valkyrie’s operations and funds directly into its existing portfolio.
If successful, this move will not only increase CoinShares’ assets under management but also strengthen its position as a key player in the crypto investment industry. The addition of Valkyrie’s Bitcoin and Ethereum ETFs further demonstrates CoinShares’ commitment to providing investors with diversified and accessible investment options in the cryptocurrency market.
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