CoinShares strengthens global reach acquiring Valkyrie ETF Business

Acquisition follows entry into an agreement granting CoinShares an exclusive option to acquire Valkyrie Funds LLC ("Valkyrie") and the Sponsor rights to BRRR, Valkyrie's physically-backed Bitcoin ETF. Valkyrie's regulatory licences are complementary to CoinShares' existing U.S. permissions and contribute to establishing solid foundations for CoinShares to continue executing its U.S. asset management expansion plan. It provides CoinShares with a promising platform to expand its digital assets expertise into the United States and contributes approximately $530 million of new assets under management from $BTF, $WGMI, $BRRR, and $BTFX. CoinShares plans to rebrand Valkyrie as the Company's U.S. asset management platform that will concentrate on creating innovative products that stand out in the market. Valkyrie's product line will eventually be operated under the CoinShares brand to ensure brand consistency and awareness.
PRNewswireMarch 12, 20244 min

CoinShares International Limited (“CoinShares” or “the Company”) , the leading European investment company specialising in digital assets, announced the completion of its acquisition of Valkyrie Funds LLC (“Valkyrie”), the investment advisory business of Valkyrie Investments Inc. (“Valkyrie Investments”), as well as the Sponsor rights to the Valkyrie Bitcoin Fund, the physically-backed Bitcoin ETF. With the addition of approximately Valkyrie’s $530 million of assets under management (“AUM”), CoinShares’ AUM has increased to approximately $7.3 billion globally as of 11th March 2024. This pivotal move significantly accelerates CoinShares’ expansion into the U.S. market and is a further milestone towards building a global asset management franchise.

As previously announced, CoinShares has held an option to acquire Valkyrie since November 2023, which was exercised following Valkyrie Investments’ launch of Valkyrie Bitcoin Fund in January 2024. The close of the acquisition enhances CoinShares’ deep commitment to Valkyrie’s growth and success while also promoting the creation of cutting-edge digital asset investment solutions.

Looking ahead, CoinShares plans to use the Valkyrie ETF infrastructure to develop its U.S. asset management business, with a clear focus on product innovation and market differentiation. The new platform will operate as a forward-looking thematic asset manager for the U.S. market, leaning on the success of unique thematic products such as $WGMI — the highest-performing non-leveraged ETF in 2023 across all sectors — and the newly introduced $BTFX, a 2x leveraged bitcoin futures ETF. These offerings demonstrate CoinShares’ commitment to delivering diverse and advanced strategies that go beyond mere beta exposure to digital assets. CoinShares is well equipped with a comprehensive suite of tools, including hedge fund expertise, quantitative research, equity analysis, and profound digital asset knowledge, that has enabled the Company to craft innovative, high-performing, and unique products tailored to investor expectations in the evolving financial landscape.

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