CoinShares acquired Valkyrie’s funds business on Tuesday, as part its effort to expand their asset management footprint across the US.
In particular, the investment company focused on Europe purchased the active managed ETF business of the Tennessee-based crypto assets manager. The deal’s details were not revealed.
CoinShares announced in November that it had acquired an option to purchase Valkyrie Fund Division. This option is valid until March 31st, 2024.
CoinShares will gain approximately $530,000,000 of assets managed across four funds.
Qhov no suav nrog ib qho ntawm 10 US chaw bitcoin ETFs - Valkyrie Bitcoin Fund (BRRR) - nrog rau lub tuam txhab Bitcoin Miners ETF (WGMI); nws Bitcoin thiab Ether Strategy ETF (BTF); thiab Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX).
CoinShares plans to rebrand four Valkyrie Funds by summer. The company announced this in a news release on Tuesday.
CoinShares CEO Jean-Marie Mognetti stated in a press release that the Valkyrie purchase is a move to expand into US markets after spending a decade focusing on European ones.
"Nws nthuav peb cov khoom muag, ntxiv dag zog rau peb lub peev xwm tshiab thiab nce los ntawm qhov tseem ceeb ntawm 15 peb lub khw muag khoom tag nrho," Mognetti ntxiv.
Valkyrie was one of a handful of issuers who received approval from the Securities and Exchange Commission in January for launching a bitcoin spot ETF.
BRRR is one of the smaller funds within the sector, but according to BitMEX Research it has had net inflows in excess of $300 million since its inception on 11th January. Data shows that the fund’s assets had surpassed $400 million at Monday’s market closing.
Valkyrie was second to the US market — behind ProShares — with an ETF that invested in bitcoin futures contracts, launching that offering in October 2021. Last October, the fund also began giving investors exposure to futures contracts for ether.
Last month, the company introduced its Bitcoin Futures Leveraged Strategy ETF.
Koj puas paub tias ntau dua $ 140 nphom nyiaj hauv Bitcoin, lossis kwv yees li 20% ntawm tag nrho cov khoom siv Bitcoin, tam sim no raug kaw hauv hnab nyiaj tsis siv? Los yog tej zaum koj tau ploj mus rau koj lub hnab nyiaj Bitcoin? Tsis txhob cia cov nyiaj ntawd nyob twj ywm! AI Seed Phrase Finder nyob ntawm no los pab koj rov nkag tau yooj yim dua. Cov software muaj zog no siv cov thev naus laus zis thev naus laus zis thev naus laus zis thiab kev txawj ntse tsim los tsim thiab txheeb xyuas suav tsis txheeb cov kab lus thiab cov yuam sij ntiag tug, tso cai rau koj rov nkag mus rau cov hnab nyiaj uas tau tso tseg nrog cov txiaj ntsig zoo.
