CoinShares Expands Global Footprint With Valkyrie ETF Business Acquisition

CoinShares, a leading digital assets investment firm, has announced the successful acquisition of Valkyrie ETF Business, marking a significant expansion of its global footprint. The Jersey-based company, which has been a pioneer in the cryptocurrency space since 2013, has now fortified its position by integrating Valkyrie’s offerings into its diverse portfolio.

The strategic move came after CoinShares launched the Valkyrie Bitcoin Fund earlier this year, and the acquisition was finalized as per a press release dated Mar 12. This acquisition includes Valkyrie Funds LLC and the sponsor rights to the Valkyrie Bitcoin Fund, a physically-backed Bitcoin ETF, which boasts approximately $530 million in assets under management.

With this acquisition, CoinShares will substantially impact the U.S. market by utilizing Valkyrie’s established ETF infrastructure to introduce its thematic products. Among these are $WGMI, CoinShares’ top-performing non-leveraged ETF of 2023, and $BTFX, a newly launched 2x leveraged bitcoin futures ETF.

CoinShares Integrates Valkyrie Brand

Jean-Marie Mognetti, CEO of CoinShares, expressed his enthusiasm for the acquisition, emphasizing its importance in the company’s growth trajectory.

More importantly, it broadens our product offerings, strengthens our innovation capacity, and increases by a factor of 15 our total addressable market. The U.S. represents a critical market for any asset manager. With a dedicated platform as well as the right product-market fit, CoinShares is poised to deliver significant value to its stakeholders,” Mognetti stated.

The integration process of Valkyrie into CoinShares’ brand portfolio is already underway. However, by the upcoming summer, the rebranding efforts will culminate, aligning Valkyrie with the investment firm brand to enhance consistency and market presence in the United States.

Moreover, this development is a testament to the firm commitment to innovation and its ability to adapt to the evolving landscape of digital asset management. Also, the investment firm, with a strengthened product lineup and a clear vision for the future, continues its trajectory of growth and success in the dynamic world of cryptocurrency investments.ā€

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Furthermore, the authorā€™s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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