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CoinShares International Limited, a prominent European investment company specializing in digital assets, recently finalized the acquisition of Valkyrie Funds LLC and its investment advisory business from Valkyrie Investments Inc. This acquisition includes sponsor rights to the Valkyrie Bitcoin Fund, a physically-backed Bitcoin exchange-traded fund (ETF).
Acquisition details
This acquisition, announced on Monday, adds approximately $530 million in assets under management (AUM) to CoinShares, boosting its global AUM to approximately $7.3 billion. The acquisition, which follows CoinShares' option to acquire Valkyrie exercised in November 2023, highlights the company's confidence in Valkyrie's growth trajectory, particularly following the launch of the Valkyrie Bitcoin ETF in January 2024.
This acquisition represents CoinShares' strategic push into the U.S. market, enhancing its position as a global asset management leader. CoinShares said it plans to leverage Valkyrie's ETF infrastructure to expand its asset management business in the U.S., focusing on product innovation and market differentiation.
The new platform aims to offer forward-looking thematic asset management solutions, building on the success of unique products such as $WGMI, the highest-performing nonleveraged ETF in 2023 across all sectors and the newly introduced $BTFX, a 2x leveraged Bitcoin futures ETF. These offerings reflect CoinShares’ commitment to delivering diverse and advanced strategies that surpass mere beta exposure to digital assets.
Jean-Marie Mognetti, CEO of CoinShares, commented on the acquisition, stating, "the U.S. represents a critical market for any asset manager and with a dedicated platform as well as the right product-market fit, CoinShares is poised to deliver significant value to its stakeholders."
CoinShares' vision for future
In the wake of the acquisition, CoinShares has embarked on the seamless integration of Valkyrie into its portfolio of brands, with both teams working collaboratively to ensure a smooth transition and the continued excellence of product offerings.
A central element of this integration strategy is the decision to rebrand Valkyrie under the CoinShares umbrella, expected to be finalized by summer. This initiative aims to merge the product lineup across the entire CoinShares ecosystem, enhancing brand consistency and amplifying brand awareness on the U.S. market.
Alex Dovbnya
Valeria Blokhina
