CoinShares International Limited has exercised its strategic option to acquire Valkyrie Funds LLC, a U.S. digital asset manager's investment advisory business specializing in actively managed cryptocurrency exchange-traded funds (ETFs). This strategic move aligns with the recent SEC approval for Valkyrie's spot Bitcoin ETF, marking a significant step in CoinShares' expansion into the U.S. market.
The decision to exercise the acquisition option follows the SEC approval for Valkyrie's spot Bitcoin ETF, enhancing CoinShares' position in the evolving U.S. regulatory landscape.
The acquisition is expected to boost CoinShares' Assets Under Management (AUM) by approximately $110 million, incorporating Valkyrie's existing ETF products.
CoinShares aims to replicate its European success in the U.S. market, offering regulated digital asset products to American investors.
Jean-Marie Mognetti, CEO of CoinShares, emphasizes the company's ambition to be a global leader in the digital asset space, leveraging the acquisition to extend its success in the U.S.
Leah Wald, CEO of Valkyrie Funds, expresses excitement about CoinShares advancing the digital asset space.
While Valkyrie's spot bitcoin ETF had lower trading volume compared to some counterparts on its debut, CoinShares remains optimistic about the strategic move to acquire Valkyrie Funds.
The acquisition is contingent on the completion of due diligence, finalization of legal agreements, and approval by the CoinShares board. Upon completion, Valkyrie Funds will be integrated into the CoinShares group.