CoinShares Acquires Bitcoin ETF Provider Valkyrie to Expand into U.S

• CoinShares Acquires Valkyrie Investments' ETF Unit
• Acquisition Motivated by SEC Approval
• Implications for CoinShares
• Acquisition Terms

CoinShares Acquires Valkyrie Investments' ETF Unit

CoinShares, a leading crypto asset manager, has used its option to acquire the exchange-traded fund (ETF) division of Valkyrie Investments. This addition to its arsenal comes a day after the unveiling of spot bitcoin ETFs in the U.S.

Acquisition Motivated by SEC Approval

The decision to exercise the purchase option, which CoinShares secured in November of the previous year, was primarily driven by the U.S. Securities and Exchange Commission's (SEC) recent approval of spot bitcoin ETFs. This endorsement included Valkyrie's own offering.

Implications for CoinShares

The acquisition is set to increase CoinShares' existing assets under management (AUM) by approximately $110 million, adding to their current AUM of $4.5 billion. The new assets include the recently approved Valkyrie Bitcoin$42,260 -0.64% Fund (BRRR), as well as the Bitcoin and Ether Strategy ETF (BTF) and the Bitcoin Miners ETF (WGMI).

Acquisition Terms

The finalized terms of the purchase, which is yet to undergo thorough due diligence, have not been disclosed.

Edited by Jonathan Stoker