CoinShares International Limited today announced it has exercised the option to acquire Valkyrie Funds LL, a U.S. digital asset manager’s investment advisory business specialising in actively managed cryptocurrency exchange-traded funds, from Valkyrie Investments Inc.
CoinShares’ decision to exercise this option comes as a direct result of SEC’s approval for the issuance of Valkyrie’s spot Bitcoin ETF, The Valkyrie Bitcoin Fund (BRRR), which commenced trading on Thursday 11th January 2024 at 09:30 am ET on Nasdaq as part of the first cohort of issuers for such products in the U.S. This move aligns with the positive developments in the US regulatory landscape and CoinShares’ strategy to expand its digital asset offerings in the U.S. market.
Upon completion, the acquisition is expected to bolster CoinShares’ existing AUM, currently at $4.5 billion by approximately…
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