Summary
TLDR: European fund manager CoinShares has completed its acquisition of Valkyrie Funds LLC, gaining sponsor rights to Valkyrie’s new Bitcoin ETF. This move is part of CoinShares’ growth strategy with a focus on the U.S. market. CoinShares now controls four funds, including the Valkyrie Bitcoin Fund. The acquisition comes after the SEC approved 11 spot Bitcoin ETFs, boosting the digital assets market.
Key Points
1. CoinShares has completed its acquisition of Valkyrie Funds LLC, gaining sponsor rights to Valkyrie’s new Bitcoin exchange-traded fund (ETF).
2. The move is part of CoinShares’ growth strategy with a focus on the U.S., as stated by CEO Jean-Marie Mognetti.
3. With this acquisition, CoinShares is set to gain around $530 million of assets under management across four funds, including the Valkyrie Bitcoin Fund trading on Nasdaq.