Coinshares Expands US Footprint Through Strategic Takeover of Valkyrie and Its Array of ETFs

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On Friday, Coinshares International Limited, announced that the firm has acquired Valkyrie Funds LLC, the U.S.-based digital asset manager. The Saint Helier company said the decision comes after a direct result of Valkyrie’s spot bitcoin exchange-traded fund (ETF) approval.

Coinshares Amplifies U.S. Market Influence With Key Acquisition

Coinshares detailed on Jan. 12, 2024, that the firm has acquired the digital currency asset manager Valkyrie. The company disclosed the deal will also include Valkyrie’s existing exchange-traded products such as the Valkyrie Bitcoin Fund (BRRR), the Bitcoin and Ether Strategy ETF (BTF), and the Bitcoin Miners ETF (WGMI).

The firm detailed that the move aligns with Coinshares’ strategy to provide digital currency offerings in the U.S. market. At the end of September 2023, Coinshares announced its new hedge fund division and its U.S. expansion plans. The acquisition of Valkyrie will increase Coinshares’ current $4.5 billion in assets under management (AUM) by an additional $110 million.

“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,” Jean-Marie Mognetti the CEO of Coinshares said. “This expansion is a clear statement of our appetite for acquisition to support our ambition to be a global leader in the digital asset space.”

The press announcement, sent to News, notes that the acquisition awaits the conclusion of thorough due diligence, the finalization of essential legal agreements, and the ultimate approval from the Coinshares’ board.

Until the acquisition is entirely executed and finalized, Valkyrie Funds will preserve its operational autonomy. “Coinshares has established itself as a premier player in the digital asset space and we’re excited to see how they continue advancing the space by leveraging Valkyrie’s team and expertise,” the CEO of Valkyrie, Leah Wald remarked.

What do you think about Coinshares acquiring Valkyrie and its ETFs? Share your thoughts and opinions about this subject in the comments section below.

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