CoinShares Acquires Valkyrie Funds for Crypto ETF Expansion in US

Summary

  • CoinShares International Limited announced its strategic acquisition of Valkyrie Funds LLC.
  • Valkyrie Funds is a U.S. digital asset manager specializing in cryptocurrency exchange-traded funds (ETFs).
  • The acquisition set to enhance CoinShares’ AUM by approximately $110 million.
  • Both CoinShares and Valkyrie Funds are leaders in the financial landscape focusing on digital assets.

CoinShares International Limited (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a benchmark in the field of digital asset investment, has unveiled its strategic acquisition of Valkyrie Funds LLC, an American firm specializing in cryptocurrency exchange-traded funds (ETFs). This key business move was unveiled shortly after the SEC green-lighted Valkyrie’s spot ETF, The Valkyrie Bitcoin Fund, that began trading on Nasdaq recently.

The acquisition will augment CoinShares’ assets under management (AUM) by a ballpark figure of $110 million, mirroring the current AUM within Valkyrie’s existing ETF products. These include The Valkyrie Bitcoin Miners and Ether Strategy ETF (Nasdaq: WGMI). Currently, CoinShares manages assets worth $4.5 billion.

Leadership Perspectives

CoinShares’ CEO, Jean-Marie Mognetti, interpreted the acquisition as the company’s thrust expanding from European markets into the U.S, their primary objective remains providing regulated digital asset solutions to the stateside investors. Leah Wald, Valkyrie Funds’ CEO, demonstrated her zest for the upcoming era under CoinShares’ leadership, predicting their joint strengths would propel them forward in the US digital asset investment sphere.

Pending the culmination of comprehensive due diligence, necessary legal agreement finalizations, and awaiting CoinShares’ board approval, Valkyrie Funds extends its operational independence until the acquisition reaches fulfillment.

The Companies

Founded in 2013, CoinShares is a European investment conglomerate specializing in digital assets. They offer a gamut of financial services including investment management and trading. CoinShares has bases operating under various regulatory authorities, they are publicly listed on Nasdaq Stockholm and the OTCQX.

Nashville-based Valkyrie Investments is renowned for its exposure to digital assets via traditional financial channels. It is steered by experienced asset managers hailing from distinguished financial institutions.

The above information finds its roots in a press release.

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Given the strong reputations of CoinShares and Valkyrie Funds, their union may impact forex and other trading entities, specifically in the digital asset investment front. Their influence can particularly affect digital currencies like Bitcoin and Ether.

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