CoinShares Acquires Valkyrie Funds, Expands into US Market
CoinShares International Limited, a leader in digital asset investment, has announced its strategic acquisition of Valkyrie Funds LLC, a US digital asset manager specializing in cryptocurrency exchange-traded funds (ETFs). This move marks CoinShares’ expansion into the US market and follows the recent approval from the US Securities and Exchange Commission (SEC) for Valkyrie’s spot ETF, The Valkyrie Bitcoin Fund.
SEC Approval Paves Way for Valkyrie’s Spot ETF on Nasdaq
The recent approval from the SEC has been a significant milestone for Valkyrie Funds, as it allowed The Valkyrie Bitcoin Fund to start trading on Nasdaq. This accomplishment has positioned Valkyrie Funds as a leading player in the cryptocurrency market, attracting the attention of CoinShares. With this regulatory green light, Valkyrie Funds has demonstrated its ability to navigate the complex landscape of digital asset investing and has become an attractive investment opportunity for CoinShares.
CoinShares to Boost AUM by $110 Million with Valkyrie Acquisition
Through the acquisition of Valkyrie Funds, CoinShares expects to see a substantial increase in its assets under management (AUM). CoinShares plans to enhance its current AUM of $4.5 billion with approximately $110 million from Valkyrie’s existing ETF products. These products include The Valkyrie Bitcoin and Ether Strategy ETF and The Valkyrie Bitcoin Miners ETF. This acquisition positions CoinShares for further growth and solidifies its position as a leading digital asset investment company.
CoinShares and Valkyrie Join Forces in US Digital Asset Market
The acquisition of Valkyrie Funds by CoinShares represents a strategic partnership between two prominent players in the digital asset market. CoinShares, with its expertise in digital asset investment and its successful track record in Europe, aims to bring regulated digital asset products to American investors. Valkyrie Funds, on the other hand, offers exposure to digital assets through traditional financial vehicles and is led by experienced asset managers with backgrounds in notable financial institutions. The combination of these strengths is expected to further advance the presence of CoinShares and Valkyrie Funds in the American digital asset investment market.
CoinShares and Valkyrie Deal Moves Forward Pending Final Approval
While the acquisition has been announced, it is still pending satisfactory due diligence, the finalization of necessary legal agreements, and final board approval from CoinShares. Until the acquisition is fully executed, Valkyrie Funds will maintain operational independence. Nonetheless, the leadership teams from both companies have expressed enthusiasm for the future and are confident that the acquisition will be a success. This deal marks an exciting new chapter for CoinShares as it expands its reach into the US market and positions itself as a global leader in digital asset investment.
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Analyst comment
Positive news. CoinShares’ acquisition of Valkyrie Funds expands its presence in the US market, while Valkyrie’s SEC approval for its spot ETF on Nasdaq solidifies its position in the cryptocurrency market. CoinShares expects a boost in AUM by $110 million, enhancing its leading position in digital asset investment. The strategic partnership between CoinShares and Valkyrie Funds is expected to advance their presence in the American digital asset investment market. The deal is pending final approval but shows promise for both companies’ future success.
