CoinShares, a major European asset manager, has secured an exclusive option to acquire Valkyrie’s crypto-focused exchange-traded funds (ETFs) by March 31, 2024. This deal allows CoinShares to purchase 100% of Valkyrie Funds from Valkyrie Investments, including all associated rights with the Valkyrie Bitcoin Fund and any other unlaunched ETFs held by Valkyrie Investments. As part of the agreement, CoinShares and Valkyrie have also entered into a brand licensing agreement. If approved by the U.S. Securities and Exchange Commission (SEC), Valkyrie’s products, such as its pending Bitcoin spot ETF application, will use the CoinShares name for regulatory filings. This move marks CoinShares’ entry into the U.S. market and its first step in offering a mainstream passive cryptocurrency product. CoinShares CEO, Jean-Marie Mognetti, stated that the acquisition of Valkyrie accelerates the company’s expansion into the U.S. market and its global deployment of digital asset management expertise. While the deal is pending regulatory approvals and consents, Valkyrie Funds will continue to operate independently. CoinShares currently manages over $3 billion in assets and is a prominent player in the European crypto exchange-traded product market.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Jean-Marie Mognetti |
| Companies | U.S. Securities and Exchange Commission (SEC), Valkyrie Investments, CoinShares |
| Currencies | Bitcoin |
| Securities | None |
