CoinShares Could Acquire Valkyrie’s Crypto ETF

Table of Contents

• CoinShares Gets Buying Rights
• Valkyrie’s ETF Efforts
• “Global ETF Market Is Fragmented” 

Digital asset investment company CoinShares has secured a strategic option to buy Valkyrie’s exchange-traded fund. 

CoinShares Gets Buying Rights

Europe’s leading digital asset investor, CoinShares, has secured the buying rights to the exchange-traded fund (ETF) of its US counterpart, Valkyrie Investments. The strategic option is active until it expires on 31 March 2024 and is awaiting regulatory approval. Till a deal is finalized, Valkyrie will remain an independent entity and function accordingly. 

The team at Valkyrie announced the news on X.com, 

“Big News! Valkyrie is set to join the CoinShares family! We're thrilled about this partnership, uniting our U.S. market insights with CoinShares' global expertise. Together, we're redefining digital asset investment in the U.S. and beyond!”

Valkyrie’s ETF Efforts

The Valkyrie Funds unit will also include the Valkyrie Bitcoin Fund, which was filed on June 21, along with BlackRock and a host of other financial firms. The strategic deal also includes a brand licensing term where, upon approval, future S-1 filings by Valkyrie Investments with the SEC will be done under the CoinShares name. 

If the SEC grants approval for the Valkyrie Bitcoin Fund, Valkyrie Investments intends to integrate the CoinShares brand, marking CoinShares' inaugural foray into providing a mainstream crypto passive product in the U.S. market.

Valkyrie CEO Leah Wald acknowledged the experience and first-mover advantage CoinShares has in the digital asset landscape, saying,

"At the heart of our mission is to expand high-quality digital asset investment opportunities, joining CoinShares through this move underscores this shared ambition and vision…Together, with Valkyrie's established U.S. presence and existing offerings, alongside CoinShares' global reach and infrastructure, we're poised to deliver groundbreaking products aimed at solving investors' needs."

“Global ETF Market Is Fragmented” 

CoinShares has over $3.2 billion worth of assets under management and is optimistic about the crypto ETF market in the U.S. due to the recent rush of applications. 

According to CEO of CoinShares, Jean-Marie Mognetti, the US has to catch up with Europe, where crypto spot ETPs have been established since 2015. The differences in the US and European markets present both pros and cons. Mognetti asserted that his company’s vision aligns with Valkyrie’s deep understanding of the market and experience with crypto investment products. 

He said, 

"The option to acquire Valkyrie is accelerating our expansion into the U.S. market and the deployment of our digital asset management expertise globally…CoinShares is looking forward to exploring this acquisition option and bringing, with the know-how of Valkyrie's founders, premier digital asset products to American investors."

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.