CoinShares Acquires Valkyrie Bitcoin ETF for US Expansion

CoinShares has acquired Valkyrie, including its sponsor rights to the Valkyrie Bitcoin Fund, bolstering its presence in the US Digital market.

CoinShares International Limited, a leading European digital asset management firm, has announced that it has acquired Valkyrie Funds LLC, along with the sponsor rights to the Valkyrie Bitcoin Fund, which is a physically-backed Bitcoin exchange-traded fund (ETF).

CoinShares Acquires Valkyrie Bitcoin ETF Business

This acquisition is part of a strategic move that aims to strengthen the company’s leadership position in the digital asset market in the United States.

Particularly noteworthy is that this acquisition represents a crucial milestone in the company’s expansion strategy. By leveraging Valkyrie’s regulatory licenses and revolutionary product offerings, the company intends to strengthen its footprint in the United States.

CoinShares International Limited (CS), well-known for its competence in digital assets, has completed the acquisition of Valkyrie Funds LLC. This transaction strengthens the company’s commitment to the market in the United States.

As of March 11, 2024, CoinShares’ global assets under management (AUM) stood at about $7.3 billion, thanks to Valkyrie’s contribution of around $530 million in AUM.

Notably, this strategic move, which the digital management firm disclosed, aligns with the company’s objective of becoming a dominant player in the digital asset sector in the United States by using Valkyrie’s existing platform and experience.

Valykrie and CoinShares reached an exclusive option agreement in January 2024, resulting in the acquisition. It was possible for the company to acquire the investment advice business of Valkyrie as well as the sponsor rights to the Valkyrie Bitcoin Fund thanks to the arrangement.

CoinShares’ asset management expansion plan in the United States will have a solid base thanks to these regulatory licenses, which complement the digital asset investment firm’s current rights in the United States.

Jean-Marie Mognetti, the Chief Executive Officer of CoinShares, expressed his excitement about the recent acquisition and emphasized its transformative influence on the firm’s marketing approach in his remarks.

In addition, he emphasized the significant increase in assets under management (AUM) and the expansion of product offerings, which positions CoinShares as a prominent player in the market in the United States.

As an additional point of interest, Mognetti emphasized the significance of the United States market for asset managers and reaffirmed CoinShares’ commitment to providing value to stakeholders.

On the other hand, Frank Spiteri, the Head of Asset Management at CoinShares, stressed the company’s unrivaled knowledge of digital assets and its dedication to guiding clients through the ever-changing world.

To traverse the complexity of digital assets, Spiteri underlined CoinShares’s role as a trusted partner, offering innovative solutions and research capabilities unrivaled by the competition.

After the acquisition, CoinShares has begun incorporating Valkyrie into its existing portfolio of brands. The company aims to consolidate all its product portfolios under the CoinShares umbrella.

This strategic move strengthens the brand and raises awareness in the United States. It is anticipated that the integration process will be completed by the summer, which will demonstrate CoinShares’ commitment to providing exceptional options for digital asset investment.

While this is going on, the news comes at a time when the U.S. Spot Bitcoin ETF is becoming increasingly popular and Bitcoin is climbing to a new all-time high (ATH) that is higher than $72,000.

Significant inflows into United States Bitcoin exchange-traded funds (ETFs) are driving this spike, indicating increasing interest from Wall Street players in the top cryptocurrency.

The digital asset industry experienced a total inflow of $2.68 billion the previous week, with the United States contributing approximately $2.8 billion.

These recent events shed light on the growing momentum that Bitcoin is experiencing. Institutional investors are still flocking to cryptocurrency investment avenues, propelling Bitcoin to new heights in the financial landscape.