European cryptocurrency investment provider CoinShares has exercised its option to acquire Valkyrie Funds LLC, an American management company. In doing so, CoinShares solves the strategic task of strengthening its presence in the US crypto market.
The decision was announced one day after the launch of spot Bitcoin ETFs, specifically the Valkyrie Bitcoin Fund (BRRR), on US exchanges. On January 12, the company announced the acquisition on its official X page.
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CoinShares received an option to acquire the Valkyrie Funds in November 2023, with an expiration date of March 31, 2024.
The acquisition of Valkyrie Funds underscores CoinShares' commitment to innovative and regulated solutions that will bring a new level of digital asset services to US investors. This marks a critical turning point in CoinShares' management, as it makes the company a global crypto asset investment vehicle, CoinGape reported.
"This move not only confirms our desire to bring our long-standing expertise in European ETFs to the US but also allows us to provide US investors with innovative and reputable solutions for regulated investment in digital assets," CoinShares commented.
The investment firm's CEO, Jean-Marie Mognetti, emphasized the strategic importance of the acquisition, positioning it as a key step in extending its European success to the US market.
With this fundamental decision to enter the BTC ETF race in the US, CoinShares will add nearly $110 million in assets and underscore its leadership position in digital asset investing.
Jean-Marie Mognetti shared CoinShares' achievements in the European crypto environment and emphasized the company's plans to emerge as a leader in the US market as well. He stated, "The exercise of our option to acquire Valkyrie Funds is aimed at replicating our success in the US."
Valkyrie Funds CEO Leah Wald also commented on CoinShares' leadership in the crypto space: "Being part of such a strong and successful company marks a promising new chapter for us. She believes that the combined efforts of the two companies will have a broader impact on the US crypto investment market.
Valkyrie's purchase of the company is subject to regulatory due diligence, after which it will be officially confirmed. Until then, Valkyrie Funds will remain operationally independent.
Regulators are expected to approve the deal as it is in line with positive developments in the US regulatory environment, and US investors will gain a full suite of regulated digital asset products as a result.
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