April 13, 2024

CoinShares to acquire Valkyrie Funds, enters US market By Investing.com

© Reuters.

SAINT HELIER – CoinShares International Limited (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a leader in digital asset investment, announced today its strategic acquisition of Valkyrie Funds LLC, a U.S. digital asset manager specializing in cryptocurrency exchange-traded funds (ETFs). The decision follows the SEC approval for Valkyrie’s spot ETF, The Valkyrie Bitcoin Fund (Nasdaq: BRRR), which started trading on Nasdaq on Thursday.

The acquisition is set to enhance CoinShares’ assets under management (AUM) by approximately $110 million, the current AUM within Valkyrie’s existing ETF products, which includes The Valkyrie Bitcoin and Ether Strategy ETF (Nasdaq: BTF) and The Valkyrie Bitcoin Miners ETF (Nasdaq: WGMI). CoinShares’ current AUM stands at $4.5 billion.

Jean-Marie Mognetti, CEO of CoinShares, emphasized the move as an extension of the company’s European success to the U.S., aiming to offer regulated digital asset products to American investors. Leah Wald, CEO of Valkyrie Funds, expressed enthusiasm for the future under CoinShares’ leadership, citing their combined strengths to advance in the American digital asset investment market.

The acquisition is pending satisfactory due diligence, the finalization of necessary legal agreements, and final board approval from CoinShares. Valkyrie Funds will maintain operational independence until the acquisition is fully executed.

CoinShares, established in 2013, is a European investment company specializing in digital assets. It provides a range of financial services, including investment management and trading. CoinShares is regulated in various jurisdictions and is publicly listed on the Nasdaq Stockholm and the OTCQX.

Valkyrie Investments, based in Nashville, offers exposure to digital assets through traditional financial vehicles and is led by experienced asset managers with backgrounds in notable financial institutions.

The information is based on a press release statement.

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