CoinShares, a leading digital asset investment firm, has exercised its option to acquire Valkyrie Funds. 

CoinShares will take control of Valkyrie’s BRRR Bitcoin ETF launched yesterday, among other products. This strategic acquisition is set to bolster CoinShares’ presence in the United States, where Valkyrie is based, and expand its ETF offerings to a broader market.

CoinShares, headquartered in Europe, has been looking to deepen its footprint in the U.S. market, and the Valkyrie acquisition is a significant step in that direction. The deal not only diversifies CoinShares’ product offerings but also consolidates its position as a global leader in digital asset investments.

Valkyrie, known for its innovative approach to digital asset funds, has been a notable player in the ETF space, particularly with its BRRR Bitcoin ETF, one of the 11 spot Bitcoin ETFs approved by the U.S. Securities and Exchange Commission earlier this week. 

Bitcoin ETFs provide exposure to the leading cryptocurrency without the need for investors to hold the actual digital coins. This reduces the risks associated with custody and security while still allowing participation in the potential gains of the crypto market.

The financial terms of the deal have not been disclosed, but it is understood that CoinShares exercised an option to buy Valkyrie, which was part of a previous agreement between the two firms. 

End

To Get The Latest News Update

Sign up to Our Subscription.

We don’t spam! Read our privacy policy for more info.

To Get The Latest News Update

Sign up to Our Subscription.

We don’t spam! Read our privacy policy for more info.