CoinShares International Limited (Nasdaq Stockholm: CS) has exercised its strategic option to acquire Valkyrie Funds LLC, a U.S.-based digital asset manager known for its actively managed cryptocurrency exchange-traded funds (ETFs). This strategic move follows the recent SEC approval of Valkyrie’s spot Bitcoin ETF, The Valkyrie Bitcoin Fund (BRRR).
CoinShares Strategic Move into the U.S. Market and AUM Boost
CoinShares’ decision to acquire Valkyrie Funds is a significant step in its entrance into the U.S. market. The move aligns with positive developments in the U.S. regulatory landscape and CoinShares’ strategy to expand its digital asset offerings.
Upon completion, the acquisition is expected to increase CoinShares’ existing AUM of $4.5 billion by approximately $110 million, reflecting Valkyrie’s current AUM within its existing ETF products. These include The Valkyrie Bitcoin Fund (BRRR), The Valkyrie Bitcoin and Ether Strategy ETF (BTF), and The Valkyrie Bitcoin Miners ETF (WGMI).
CoinShares’ Commitment and Valkyrie’s Excitement for U.S. Expansion
CoinShares CEO Jean-Marie Mognetti expressed the company’s commitment to acquiring Valkyrie Funds, emphasizing the goal of extending its European success to the U.S. market. The move signifies CoinShares’ appetite for acquisition as it aims to be a global leader in the digital asset space.
Leah Wald, CEO of Valkyrie Funds, welcomed the acquisition, citing CoinShares’ premier position in the digital asset space. She highlighted the potential for CoinShares and Valkyrie to advance in the American digital asset investment sphere, particularly within the digital asset ETF market.
The acquisition is pending satisfactory due diligence, finalization of necessary legal agreements, and approval from the CoinShares board. Valkyrie Funds will maintain its operational independence until the acquisition is fully executed and finalized. This strategic move reinforces CoinShares’ position in the dynamic and evolving digital asset landscape.
