European fund manager CoinShares has completed the acquisition of Valkyrie Funds LLC.
European investment company specializing in digital assets –said In an announcement Tuesday, it announced that the move had been completed. The acquisition also means CoinShares has sponsorship rights to Valkyrie’s new Bitcoin exchange-traded fund (ETF).
CoinShares CEO Jean-Marie Mognetti said the move was “another step in our growth strategy, this time with a special focus on the United States.”
Jersey-based CoinShares presentation It plans to acquire Valkyrie’s ETF business in November.
Today we are proud to announce that Valkyrie has completed the sale of its ETF platform. @CoinSharesCo.
Since 2021, we have been working to build an outstanding suite of ETFs that give investors access to the rapidly growing digital asset ecosystem.
— Valkyrie (@ValkyrieFunds) March 12, 2024
Securities and Exchange Commission gave me the green light up to 11 Spot Bitcoin Bitcoin ETF Trading on the U.S. stock exchange began on January 11. 10 of them After launchand Showing tremendous growth—Boosting the rest of the digital asset market.
One is the Valkyrie Bitcoin Fund, which trades on Nasdaq. BRRR ticker. CoinShares will now have control over those products, as well as the company’s Bitcoin Miners ETF (WGMI), Bitcoin and Ether Strategy ETF (BTF), and Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX).
The move gives CoinShares approximately $530 million in assets under management across four funds.
BRRR ETF is one of the smaller Bitcoin ETFs with $297.3 million in assets under management. By comparison, BlackRock’s iShares Bitcoin Trust currently holds over $14 billion in assets.
Edited by Ryan Ozawa.
