CoinShares International Limited the European investment
company specializing in digital assets, has finalized its acquisition of
Valkyrie Funds LLC and the investment advisory business of Valkyrie Investments
Inc., along with the Sponsor rights to the Valkyrie Bitcoin Fund, a
physically-backed Bitcoin ETF.
This acquisition, which incorporates approximately $530
million of assets under management (AUM) from Valkyrie, has propelled
CoinShares’ global AUM to approximately $7.3 billion as of March 11, 2024. CoinShares
had previously secured the option to acquire Valkyrie in November 2023, and the
acquisition process commenced following the launch of Valkyrie Bitcoin Fund in
January 2024.
Frank Spiteri, CoinShares’ Head of Asset Management, Source: LinkedIn
Frank Spiteri, CoinShares’ Head of Asset Management,
remarked: “As Europe’s leading investment company specialising in digital
assets, CoinShares has consistently demonstrated trust and reliability with its
crypto products and services since 2014.
Our expertise is unparalleled in the crypto space, allowing us to serve not
just as leaders but also as educators for our clients. We are committed to
guiding them through this dynamic journey, which is supported by our seasoned
research team and innovative solutions. Our promise is to be a trusted partner
in navigating the complexities of digital assets.”
🚨 CoinShares is proud to announce the completion of its acquisition of Valkyrie Funds LLC, the investment advisory business of Valkyrie Investments Inc. and the Sponsor rights to the Valkyrie Bitcoin Fund, the physically-backed Bitcoin ETF.
Read more: https://t.co/ZxVhnP6BUx pic.twitter.com/jxxsFQwjrR
— CoinShares (@CoinSharesCo) March 12, 2024
Diverse Product Offerings: Showcasing $WGMI and $BTF
Moving forward, CoinShares aims to
leverage the infrastructure of the Valkyrie ETF to expand its US asset
management operations, focusing on product innovation and market distinction.
The new platform will function as a forward-looking thematic asset manager for
the US market, drawing on the success of unique thematic products such as
$WGMI, recognized as the highest-performing non-leveraged ETF across all
sectors in 2023, and the recently introduced $BTFX, a 2x leveraged bitcoin
futures ETF.
Jean-Marie Mognetti, the CEO of CoinShares, commented on the
acquisition: “The Valkyrie acquisition is yet another step in our growth
strategy with a special focus this time in the U.S. This acquisition brings an
additional $530 million AUM to CoinShares, which makes it a top line
contributor from day one. More importantly, it broadens our product offerings,
strengthens our innovation capacity, and increases by a factor of 15 our total
addressable market.
CoinShares International Limited the European investment
company specializing in digital assets, has finalized its acquisition of
Valkyrie Funds LLC and the investment advisory business of Valkyrie Investments
Inc., along with the Sponsor rights to the Valkyrie Bitcoin Fund, a
physically-backed Bitcoin ETF.
This acquisition, which incorporates approximately $530
million of assets under management (AUM) from Valkyrie, has propelled
CoinShares’ global AUM to approximately $7.3 billion as of March 11, 2024. CoinShares
had previously secured the option to acquire Valkyrie in November 2023, and the
acquisition process commenced following the launch of Valkyrie Bitcoin Fund in
January 2024.
Frank Spiteri, CoinShares’ Head of Asset Management, Source: LinkedIn
Frank Spiteri, CoinShares’ Head of Asset Management,
remarked: “As Europe’s leading investment company specialising in digital
assets, CoinShares has consistently demonstrated trust and reliability with its
crypto products and services since 2014.
Our expertise is unparalleled in the crypto space, allowing us to serve not
just as leaders but also as educators for our clients. We are committed to
guiding them through this dynamic journey, which is supported by our seasoned
research team and innovative solutions. Our promise is to be a trusted partner
in navigating the complexities of digital assets.”
🚨 CoinShares is proud to announce the completion of its acquisition of Valkyrie Funds LLC, the investment advisory business of Valkyrie Investments Inc. and the Sponsor rights to the Valkyrie Bitcoin Fund, the physically-backed Bitcoin ETF.
Read more: https://t.co/ZxVhnP6BUx pic.twitter.com/jxxsFQwjrR
— CoinShares (@CoinSharesCo) March 12, 2024
Diverse Product Offerings: Showcasing $WGMI and $BTF
Moving forward, CoinShares aims to
leverage the infrastructure of the Valkyrie ETF to expand its US asset
management operations, focusing on product innovation and market distinction.
The new platform will function as a forward-looking thematic asset manager for
the US market, drawing on the success of unique thematic products such as
$WGMI, recognized as the highest-performing non-leveraged ETF across all
sectors in 2023, and the recently introduced $BTFX, a 2x leveraged bitcoin
futures ETF.
Jean-Marie Mognetti, the CEO of CoinShares, commented on the
acquisition: “The Valkyrie acquisition is yet another step in our growth
strategy with a special focus this time in the U.S. This acquisition brings an
additional $530 million AUM to CoinShares, which makes it a top line
contributor from day one. More importantly, it broadens our product offerings,
strengthens our innovation capacity, and increases by a factor of 15 our total
addressable market.
