CoinShares, Europe’s premier digital asset investor, has obtained the option to purchase the exchange-traded fund (ETF) of Valkyrie Investments, its US counterpart. The strategic purchasing option is effective until March 31, 2024, pending regulatory approval. Throughout this period, Valkyrie will function as an independent entity.
CoinShares Secures Buying Rights
Holding the buying rights to Valkyrie’s ETF, CoinShares has set the stage for a forthcoming acquisition. As a result of this upcoming partnership, Valkyrie will continue to operate independently until a deal is formalized. This update was announced on X.com by the Valkyrie team, expressing enthusiasm about the partnership.
The Valkyrie ETF
Additionally, the strategic deal includes a brand licensing term through which future S-1 filings by Valkyrie Investments with the SEC will be conducted under the CoinShares name. This marks CoinShares’ initial venture into delivering a mainstream crypto passive product in the U.S. market if the Valkyrie Bitcoin Fund is approved by the SEC.
CEO Leah Wald of Valkyrie acknowledged CoinShares’ expertise and experience in the digital asset landscape, emphasizing the shared ambition and vision of the two companies in providing high-quality digital asset investment opportunities.
Insights On Global ETF Market
CoinShares’ assets under management amount to over $3.2 billion. The company is optimistic about the prospects of the crypto ETF market in the U.S. The CEO emphasized the gap between the US and European markets and highlighted the potential for the two companies to deliver premier digital asset products to American investors.
Hot Take: New Horizons for Digital Asset Investment
The alliance between CoinShares and Valkyrie Investments is poised to redefine digital asset investment in the U.S. and beyond, paving the way for innovative products and opening up new opportunities in the global ETF market.
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