CoinShares acquires Valkyrie ETF business, expanding US market

  • CoinShares, a digital assets investment company, completes the acquisition of Valkyrie funds, including the investment advisory arm and sponsor rights to the Valkyrie bitcoin fund.
  • CoinShares initiated the acquisition of Valkyrie funds after securing an exclusive option in November 2023, solidified by Valkyrie Investments’ successful launch of the Valkyrie bitcoin fund in January 2024.
  • The acquisition contributes to Valkyrie’s $530 million in assets under management (AMU), elevating CoinShares’ global AUM to $7.3 billion by March 11, 2024.

CoinShares, the European investment company specialising in digital assets, announced on March 12 that it has completed the acquisition of Valkyrie Funds. This includes the investment advisory business of asset management firm Valkyrie Investments, as well as the sponsor rights to the Valkyrie bitcoin fund, a physically-backed bitcoin ETF.

CoinShares finalises acquisition

CoinShares’ standing in the market is strengthened with the acquisition of Valkyrie’s $530 million assets under management (AMU), elevating its total global AMU to approximately $7.3 billion as of March 11, 2024.

This acquisition was initiated after CoinShares obtained an exclusive option to acquire Valkyrie in November 2023. The decision to proceed with the acquisition was solidified following Valkyrie Investments’ successful launch of the Valkyrie bitcoin fund in January 2024.

Also read: CoinShares expands U.S. presence with strategic acquisition of Valkyrie funds after bitcoin ETF approval

CoinShares intends to leverage the infrastructure of the Valkyrie ETF to cultivate its asset management business in the United States, emphasising product innovation and market distinctiveness.

CoinShares stresses significance of U.S. market

CoinShares CEO Jean-Marie Mognetti emphasised the importance of the US market for asset managers. He pointed out that in addition to adding a sizable amount of AUM, the purchase also boosts innovation capability, and expands product offerings.

Also read: BofA’s Merrill, Wells Fargo roll out spot Bitcoin ETFs to clients

CoinShares has started the process of integrating Valkyrie into its brand portfolio as part of the purchase. Depending on the acquired company’s financial performance, the acquisition’s ultimate purchase price will be agreed upon after a three-year earnout term.

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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