CoinShares Acquires Valkyrie Funds, Expanding Bitcoin Spot, Futures, and Mining Enterprise ETF Portfolio

One of the world’s largest cryptocurrency investment firms, CoinShares, announced on the 12th that it will acquire Valkyrie Funds, one of the Bitcoin spot ETF issuers that recently received SEC approval this week.
(Catch-up:
Historic Moment: SEC Approves 11 Bitcoin Spot ETFs! SEC Announces Full Text, Compilation 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 AUM is expected to increase by £110 million
What is CoinShares?
What is Valkyrie Funds?
After twists and turns, the U.S. Securities and Exchange Commission (SEC) finally approved 11 applications for Bitcoin spot ETFs this week, marking an important step for BTC. Against this backdrop, CoinShares, one of the world’s largest cryptocurrency investment firms, announced yesterday (12th) that it has decided to exercise its “stock option” to acquire Valkyrie Funds, one of the Bitcoin spot ETF issuers.
CoinShares obtained the “stock option” for Valkyrie Funds on November 16, 2023, with an expiration date of March 31 this year. The option gives CoinShares the right to purchase Valkyrie Funds’ shares at a low price, but whether or not to exercise the option ultimately depends on CoinShares.
CoinShares AUM is expected to increase by £110 million
According to the official announcement, after this acquisition, CoinShares’ assets under management (AUM) will increase by $110 million on top of the current $4.5 billion (approximately the total assets under management of Valkyrie Funds’ 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. Prior to this, Valkyrie Funds will continue to operate independently. Regarding this acquisition, CoinShares CEO Jean-Marie Mognetti stated:
What is CoinShares?
CoinShares is a digital asset investment company based 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 investment.
What is Valkyrie Funds?
Valkyrie Investments is an asset management company based in Tennessee, USA, focusing on introducing popular investment products to the traditional financial market using blockchain technology. It manages approximately $180 million in assets.
Valkyrie Funds is a subsidiary of Valkyrie Investments specializing in research and investment in cryptocurrency ETFs. On January 11, 2024, it received approval from the U.S. Securities and Exchange Commission (SEC) to issue Bitcoin spot ETF. The ETF is listed on Nasdaq with the code BRRR.


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