CoinShares International Limited, a leading European investment firm in the digital asset sector, has successfully completed its acquisition of Valkyrie Funds LLC and the investment advisory operations of Valkyrie Investments Inc., including the rights to the Valkyrie Bitcoin Fund, a Bitcoin ETF backed by physical assets.
The acquisition introduces roughly $530 million in assets under management (AUM) from Valkyrie into CoinShares, elevating its global AUM to an impressive $7.3 billion as of March 11, 2024.
CoinShares had initially obtained the option to acquire Valkyrie in November 2023, embarking on the acquisition process after the January 2024 launch of the Valkyrie Bitcoin Fund.
Frank Spiteri, CoinShares’ Head of Asset Management, highlighted the firm’s commitment to trustworthiness and innovation in the cryptocurrency domain, stating, “As Europe’s leading investment company specializing 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.”
With this strategic move, CoinShares plans to utilize the Valkyrie ETF infrastructure to broaden its asset management footprint in the U.S., aiming at product innovation and establishing a distinctive market presence.
The ambition is to establish a forward-thinking, thematic asset management platform in the U.S., capitalizing on the success of novel products like $WGMI and $BTFX, which have made notable impacts in the ETF landscape.
Jean-Marie Mognetti, CEO of CoinShares, emphasized the strategic importance of the acquisition, saying, “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.”
This acquisition not only enhances CoinShares’ asset base but also amplifies its innovative capabilities and market reach, particularly in the U.S.