Europe-based asset management firm CoinShares is set to acquire Valkyrie’s crypto-focused exchange-traded funds (ETF) investment advisory business, marking its entry into the U.S. market. This move follows the recent approval of Valkyrie’s spot Bitcoin ETF, the Valkyrie Bitcoin Fund (BRRR), by the U.S. Securities and Exchange Commission (SEC).
The acquisition is part of CoinShares’ strategy to expand its digital asset offerings to the U.S. market and align with its vision of becoming a global leader in the digital asset space through strategic acquisitions. CoinShares secured the exclusive option to purchase Valkyrie Funds last November.
As part of the deal, CoinShares will integrate Valkyrie’s ETF portfolio, which includes the Valkyrie Bitcoin Fund (BRRR), the Valkyrie Bitcoin and Ether Strategy ETF (Nasdaq: BTF), and the Valkyrie Bitcoin Miners ETF (Nasdaq: WGMI), into its existing assets under management (AUM). These three ETFs are expected to add approximately $110 million to CoinShares’ AUM, which currently stands at $4.5 billion.
However, the acquisition is still subject to legal agreements and board approval. Once completed, Valkyrie Funds will retain its operational independence.
Jean-Marie Mognetti, CEO of CoinShares, expressed the firm’s commitment to extending its European success into the U.S. market. He highlighted the importance of these acquisitions in supporting the company’s global leadership ambition. “Our expertise has enabled us to dominate the European market, commanding over 40% of all assets under management in crypto ETPs. Exercising our option to acquire Valkyrie Funds aims at extending our European success in the U.S, offering unparalleled access to regulated digital asset products to American investors,” Mognetti said.
Leah Wald, CEO of Valkyrie Funds, acknowledged CoinShares’ standing as a premier player in the industry and expressed excitement about leveraging the European firm’s capabilities and expertise to advance digital asset investment in the American market.
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| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Jean-Marie Mognetti, Leah Wald |
| Companies | U.S. Securities and Exchange Commission, Valkyrie Funds, CoinShares, Nasdaq, Valkyrie |
| Currencies | Bitcoin, Lido Staked Ether |
| Securities | None |
