CoinShares International, a provider of investment services in digital finance, announced the acquisition of Valkyrie Funds, which specializes in managing digital asset exchange-traded funds.
CoinShares CEO Jean-Marie Mognetti assured that the acquisition of Valkyrie Funds meets the strategic goals of the investment company and will help enter the American securities market.
“The decision follows the approval by the US Securities and Exchange Commission of the Valkyrie spot Bitcoin ETF, which began trading on the Nasdaq stock exchange on Thursday, January 11. The acquisition will allow CoinShares to offer US investors regulated digital asset products, as well as increase assets under management in its existing Valkyrie ETF products by approximately $110 million,” explains the CoinShares executive..
To complete the acquisition, the company is awaiting the results of the review, the conclusion of the necessary legal agreements and the final approval of the CoinShares Board of Directors. At the same time, Valkyrie Funds will maintain operational independence until the transaction is fully closed.
The American management company Valkyrie Funds has been actively expanding the range of its investment products throughout 2023. In August, an application was submitted to the SEC to register an ether futures ETF called Ethereum Strategy ETF.. Valkyrie already has Bitcoin futures funds: Bitcoin Strategy ETF and Bitcoin Miners ETF.