CoinShares Announces Acquisition of Valkyrie, Securing a Comprehensive Portfolio of Bitcoin Spot, Futures, and Mining Enterprise ETFs

One of the world’s largest cryptocurrency investment companies, CoinShares, announced on the 12th that it has acquired Valkyrie Funds, one of the Bitcoin spot ETF issuers that recently obtained SEC approval this week.
(Historical moment: SEC approves 11 Bitcoin spot ETFs! Full text of SEC announcement and summary of ETF-related questions)
(Background: Bloomberg Research: “Valkyrie Bitcoin Miners” is the best-performing ETF in 2023! Bitcoin mining company’s ROI exceeds 261%)
Table of Contents
CoinShares asset management scale expected to increase by £110 million
What is CoinShares?
What is Valkyrie Funds?
After many twists and turns, the U.S. Securities and Exchange Commission (SEC) finally approved the applications for 11 Bitcoin spot ETFs this week, marking an important step for BTC. Against this backdrop, CoinShares, one of the world’s largest cryptocurrency investment companies, announced yesterday (12th) that it has decided to exercise the “stock options” to acquire Valkyrie Funds, one of the Bitcoin spot ETF issuers.
CoinShares obtained the “stock options” for Valkyrie Funds on November 16, 2023, with an expiration date of March 31, 2023. The options give CoinShares the right to purchase Valkyrie Funds’ stocks at a low price, but whether or not to exercise the options ultimately depends on CoinShares.
CoinShares asset management scale expected to increase by £110 million
According to the official announcement, after this acquisition is completed, CoinShares’ assets under management (AUM) will increase by $110 million on top of the current $4.5 billion (approximately the total assets under Valkyrie Funds, which include Bitcoin spot ETF (Nasdaq: BRRR), Bitcoin and Ethereum strategy ETF (Nasdaq: BTF), and Bitcoin miners ETF (Nasdaq: WGMI)).
Further reading:
Bloomberg Research: “Valkyrie Bitcoin Miners” is the best-performing ETF in 2023! Bitcoin mining company’s ROI exceeds 261%
The current acquisition still needs to wait for completion of due diligence, confirmation of legal agreements, and approval by the board of directors. Until then, Valkyrie Funds will remain independent. Regarding this acquisition, CoinShares CEO Jean-Marie Mognetti stated:
What is CoinShares?
CoinShares is a digital asset investment company located in Jersey, Europe. Its business includes providing investment management, trading, and securities and other financial services to corporations, financial institutions, and individuals. Since 2013, CoinShares has been focused on cryptocurrency investments.
What is Valkyrie Funds?
Valkyrie Investments is an asset management company located in Tennessee, USA, specializing in launching popular investment products to the traditional financial market using blockchain technology. It currently manages approximately $180 million in assets.
Valkyrie Funds is a research subsidiary of Valkyrie Investments that specializes in cryptocurrency ETFs. It obtained approval from the U.S. Securities and Exchange Commission (SEC) on January 11, 2024, to issue Bitcoin spot ETFs. The ETF is listed on Nasdaq with the code BRRR.


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