CoinShares International Acquires Valkyrie Funds to Expand Digital Asset Offerings and Enter US Market
CoinShares International, a leading investment services provider in the digital finance sector, has announced the acquisition of Valkyrie Funds, a company specializing in the management of exchange-traded funds (ETFs) for digital assets. This strategic move aligns with CoinShares’ objectives to establish its presence in the U.S. securities market.
Jean-Marie Mognetti, CEO of CoinShares, confirmed that the acquisition of Valkyrie Funds fits within the investment company’s strategic vision and will enable their entry into the American market. “The decision was made following the U.S. Securities and Exchange Commission’s (SEC) approval of Valkyrie’s spot Bitcoin ETF. This ETF began trading on the Nasdaq stock exchange on Thursday, January 11. The acquisition will allow CoinShares to offer American investors regulated products in digital assets, and also expects to increase assets under management in Valkyrie’s existing ETF products by approximately $110 million,” explained Mognetti.
The acquisition process is pending the completion of necessary legal agreements, regulatory review, and final approval from the CoinShares board of directors. Throughout this process, Valkyrie Funds will maintain operational independence until the transaction is fully finalized.
Throughout 2023, Valkyrie Funds actively expanded its lineup of investment products, including submitting a registration application to the SEC in August for a futures-based Ethereum ETF known as the Ethereum Strategy ETF. Valkyrie already manages futures funds for Bitcoin, including the Bitcoin Strategy ETF and Bitcoin Miners ETF.
CoinShares’ procurement of Valkyrie Funds is a significant step in bridging digital asset investment opportunities to U.S. investors and highlights the growing trend of integrating cryptocurrencies into mainstream financial products.