CoinShares expands U.S. presence: Acquires Valkyrie Bitcoin business

CoinShares International Limited has concluded the acquisition of Valkyrie Funds LLC, entailing its investment advisory services and the Sponsor role for a Bitcoin ETF. As of March 11, 2024, CoinShares’ operations in the U.S. led to a considerable increase in assets under management, soaring to approximately $7.3 billion.

The acquisition indicates a remarkable step in CoinShares’ expansion strategy, widening its product offerings and reinforcing its place in the global asset management sector. With the integration of Valkyrie’s assets under management (AUM) totalling around $530 million, CoinShares is strategically positioned to invest in the rising demand for digital asset investment opportunities in the U.S.

This strategic decision indicates a pivotal step forward for CoinShares, aligning with its primary goal of building a robust global asset management enterprise. Some of the key advantages of this agreement are harnessing Valkyrie’s resources, talent, and existing user base.

CoinShares Expansion into U.S. Market

The expansion of CoinShares into the U.S. market signifies the establishment of a new era for digital asset investment solutions.

As a thematic asset manager in the U.S. market, the forthcoming platform will develop by building upon the successes of remarkable thematic funds like $WGMI and $BTFX, the latter being a 2x leveraged Bitcoin futures ETF.

Jean-Marie Mognetti, CEO of CoinShares, expressed his enthusiasm about the acquisition. He said it is a logical evolution for the company as it continues to foster innovative solutions in digital asset investments.

Jean-Marie Mognetti mentioned that CoinShares embarked on providing European investors with access to digital assets via regulated products a decade ago. This offering signifies CoinShares’ unwavering dedication to innovation and a revolutionary approach to market entry. It also indicates Valkyrie’s expansion in the U.S. market.

CoinShares and Valkyrie Join Forces

To maintain consistency throughout the CoinShares brand and amplify its presence in the American market, two teams are collaborating to redefine Valkyrie’s identity within the CoinShares organization. It represents a unified brand in the digital asset market.

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