CoinShares Completes Acquisition of Valkyrie Funds, Gaining Control of Bitcoin ETF

CoinShares Completes Acquisition of Valkyrie Funds, Gaining Control of Bitcoin ETF

Crypto News – CoinShares, a leading European investment firm specializing in digital assets, has finalized its acquisition of Valkyrie Funds LLC. In a statement released on Tuesday, the company confirmed the successful completion of the transaction, marking a significant milestone in its expansion efforts. Notably, this acquisition grants CoinShares sponsorship rights to Valkyrie’s newly launched Bitcoin exchange-traded fund (ETF).

CEO Jean-Marie Mognetti expressed enthusiasm about the strategic move, emphasizing its pivotal role in CoinShares‘ growth trajectory, particularly within the U.S. market. The decision underscores CoinShares‘ commitment to bolstering its presence and offerings in key global financial hubs.

Originating from Jersey, CoinShares first announced its intention to acquire Valkyrie’s ETF business back in November, signaling its proactive approach to capitalizing on emerging opportunities in the digital asset space.

CoinShares has diligently curated a diverse suite of ETFs since 2021, aiming to provide investors with seamless access to the rapidly expanding digital asset ecosystem. This latest acquisition further solidifies its position as a frontrunner in the digital asset management landscape.

Following the Securities and Exchange Commission’s approval of 11 spot Bitcoin ETFs on January 11, which enabled their trading on U.S. stock exchanges, the market has witnessed substantial growth. Among these ETFs is the Valkyrie Bitcoin Fund, listed on Nasdaq under the ticker symbol BRRR. With the acquisition, CoinShares assumes control not only of the BRRR ETF but also of Valkyrie’s Bitcoin Miners ETF (WGMI), Bitcoin and Ether Strategy ETF (BTF), and Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX).

This strategic move positions CoinShares to manage approximately $530 million in assets across its newly acquired funds. While the BRRR ETF currently holds $297.3 million in assets under management, it is worth noting that BlackRock’s iShares Bitcoin Trust boasts a significantly larger asset base, exceeding $14 billion.

CoinShares‘ acquisition of Valkyrie Funds underscores its commitment to pioneering innovative investment solutions in the dynamic digital asset market. With a strengthened foothold in the U.S. and beyond, the company is poised to capitalize on the growing demand for cryptocurrency investment opportunities.