Summary
CoinShares has acquired an exchange-traded funds (ETFs) business from rival Valkyrie Investments, following the recent approval of ETFs investing in Bitcoin by US regulators. Valkyrie’s Bitcoin Fund ETF (BRRR) began trading on Thursday and saw significant trading activity on its debut. This week, a total of nearly a dozen funds were approved by the Securities and Exchange Commission, resulting in $4.6 billion in combined first-day trading, marking a significant milestone for the digital-asset industry.
Key Points
1. CoinShares exercised an option to buy an exchange-traded funds business from rival Valkyrie Investments after US regulators approved ETFs investing directly in Bitcoin.
2. Valkyrie’s Bitcoin Fund ETF (BRRR) started trading and had about 676,500 shares changing hands on its debut, marking a significant moment for the digital-asset industry.
3. In total, nearly a dozen funds were approved by the Securities and Exchange Commission this week, resulting in $4.6 billion in combined first-day trading, highlighting the growing interest in digital assets.