Coinshares Merges with Valkyrie Funds in Bitcoin ETF Race

• CoinShares Announces Strategic Acquisition of Valkyrie Funds
• Strategic Acquisition Geared Towards Global Expansion
• Increasing Assets Under Management (AUM)
• Existing AUM and Independence of Operations
• Final Steps and Maintaining Operational Independence
• Fulfilling Investor Needs Through Direct Integration

CoinShares Announces Strategic Acquisition of Valkyrie Funds

CoinShares International Limited, a leading digital asset investment entity registered on Nasdaq Stockholm (CS) and US OTCQX (CNSRF), has announced a strategic plan to acquire Valkyrie Funds LLC. Serving as a digital asset manager in the United States, Valkyrie specializes in cryptocurrency exchange-traded funds (ETFs). The announcement comes as a result of the Securities and Exchange Commission's (SEC) recent approval of Valkyrie's spot Bitcoin$42,260 -0.64% ETF, or the Valkyrie Bitcoin Fund (Nasdaq: BRRR), which has begun trading on Nasdaq.

Strategic Acquisition Geared Towards Global Expansion

CoinShares, an acclaimed leader in Europe's digital asset management industry, perceives the Valkyrie Funds acquisition as a definitive step in bolstering their success beyond the European market and into the United States. This decision is particularly strategic as it follows the SEC's approval of Valkyrie's spot Bitcoin ETF. It also showcases CoinShares' commitment to delivering regulated digital asset products to investors in the United States.

Increasing Assets Under Management (AUM)

The acquisition is expected to boost CoinShares' assets under management (AUM) by approximately $110 million, which equates to the current AUM of Valkyrie's existing ETF products. Valkyrie Funds, located in Nashville, is respected for offering exposure to digital assets through traditional financial instruments, and is overseen by expert asset managers from respected financial institutions.

Existing AUM and Independence of Operations

Currently managing an AUM of $4.5 billion, CoinShares' acquisition will include Valkyrie's existing ETF products, such as Valkyrie Bitcoin and Ether Strategy ETF (Nasdaq: BTF) and Valkyrie Bitcoin Miners ETF (Nasdaq: WGMI). CoinShares CEO, Jean-Marie Mognetti, emphasized the importance of this acquisition, stating its goal to offer regulated digital asset products to the American market. Mognetti portrayed this acquisition as a significant step in extending CoinShares' European success to the U.S. market.

Leah Wald, CEO of Valkyrie Funds, shared her enthusiasm about the collaboration, citing the synergy between the two companies as a means to make significant progress in the American digital asset investment market.

Final Steps and Maintaining Operational Independence

The successful completion of the acquisition is reliant on satisfactory due diligence, the finalization of necessary legal agreements, and approval from CoinShares' board. Until the process is completed, Valkyrie Funds will retain its operational independence.

Fulfilling Investor Needs Through Direct Integration

The acquisition is anticipated to enable direct integration of Valkyrie's funds and operations into the CoinShares group. This will offer investors a complete portfolio of regulated digital asset products.

Edited by Jonathan Stoker