• CoinShares aims to acquire Valkyrie Funds in a strategic move to expand its U.S. presence.
  • The acquisition comes after the SEC approved Valkyrie’s spot Bitcoin ETF, BRRR.
  • CoinShares is expected to gain $110 million in AUM through the deal.
  • Both companies expressed optimism about the collaboration and its potential for growth.

CoinShares, a leading European digital asset manager, is solidifying its foothold in the U.S. market through the strategic acquisition of Valkyrie Funds, a specialist in actively managed cryptocurrency exchange-traded funds (ETFs).

This move comes hot on the heels of the SEC approval for Valkyrie’s groundbreaking spot Bitcoin ETF, the Valkyrie Bitcoin Fund (BRRR). BRRR made its debut on the Nasdaq just yesterday, marking a momentous occasion as one of the first U.S.-listed Bitcoin ETFs.

CoinShares’ decision to acquire Valkyrie Funds aligns with its ambition to become a global leader in the digital asset space. The acquisition is expected to boost CoinShares’ assets under management (AUM) by approximately $110 million, further solidifying its position as a major player in the industry.

Commenting on the news, CoinShares CEO Jean-Marie Mognetti stated, “This acquisition marks a pivotal step in our U.S. expansion strategy. CoinShares’ expertise and Valkyrie Funds’ established presence in the American ETF market create a powerful combination that will benefit both companies and, most importantly, investors.”

Leah Wald, CEO of Valkyrie Funds, echoed the sentiment, expressing excitement about the opportunities that lie ahead. “CoinShares’ track record of success and their renowned capabilities will further propel us forward in the U.S. digital asset ETF market. This is a promising new chapter for Valkyrie Funds, and we are thrilled to be a part of such a strong and successful group.”

The acquisition is expected to be finalized after due diligence, finalization of legal agreements, and board approval. Until then, Valkyrie Funds will maintain its operational independence.

In the meantime, the potential acquisition marks a significant development in the digital asset space, as CoinShares positions itself as a major player in the U.S. market. With the growing popularity of digital assets and the increasing regulatory clarity, the future of CoinShares and Valkyrie Funds together appears promising.