Global fintech and funding innovation ecosystem

CoinShares International Announces U.S. Acquisition

Acquisition | Jan 12, 2024

CoinShares International Limited, a leader in the European digital asset industry, officially announces its decision to acquire Valkyrie Funds LLC

The acquisition is expected to bolster CoinShares' existing Assets Under Management (AUM), currently at $4.5 billion, by approximately $110 million. Valkyrie’s existing ETF products include The Valkyrie Bitcoin Fund (BRRR), The Valkyrie Bitcoin and Ether Strategy ETF (BTF), and The Valkyrie Bitcoin Miners ETF (WGMI).

This decision follows the U.S. Securities and Exchange Commission's (SEC) approval for Valkyrie’s spot Bitcoin ETF, The Valkyrie Bitcoin Fund (BRRR), which commenced trading on Nasdaq.

Valkyrie Investments, based in Nashville, is a specialized alternative financial services firm at the intersection of traditional finance and the emerging cryptocurrency sector.  Valkyrie’s spot Bitcoin ETF garnered nearly $9 million in trading volume on its first day wh  ich was the third lowest performer by trading volume among the 11 spot Bitcoin ETFs that debuted recently.

See:  SEC Greenlights Bitcoin ETFs. Is Ethereum Next?

The acquisition is still subject to satisfactory due diligence, finalization of necessary legal agreements, and final approval from the Company board.  This move highlights the integration and expansion of digital asset companies across different global markets, reflecting the increasing acceptance and institutionalization of cryptocurrency-related financial products.

Jean-Marie Mognetti, CEO of CoinShares, emphasized the company's success in the European digital asset industry and its ambition to replicate this success in the U.S. Leah Wald, CEO of Valkyrie Funds, expressed excitement about the future prospects following the acquisition, highlighting the combined strengths of both companies.


NCFA Jan 2018 resize - CoinShares International Announces U.S. AcquisitionThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - CoinShares International Announces U.S. AcquisitionFF Logo 400 v3 - CoinShares International Announces U.S. Acquisitioncommunity social impact - CoinShares International Announces U.S. Acquisition

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - CoinShares International Announces U.S. Acquisition




 

Leave a Reply

Your email address will not be published. Required fields are marked *

2 × 2 =