CoinShares now gets the sponsor rights to Valkyrie Funds’ spot Bitcoin ETFs.
The firm is extending its asset management platform’s reach in the U.S.
A European digital asset investment business, CoinShares, recently concluded acquiring Valkyrie Funds. As part of the deal, CoinShares now gets the sponsor rights to Valkyrie Funds’ spot Bitcoin ETFs.
According to CoinShares’ announcement on March 12, the acquisition includes the firm’s financial advising company, Valkyrie Investments, as well as the sponsor rights for its physically-backed Bitcoin (BTC) ETF, the Valkyrie Bitcoin Fund.
Special Focus on the U.S
Following a three-year earnout term, which is contingent upon Valkyrie’s financial performance, the purchase price will be finalized. As a result of the acquisition, CoinShares will now oversee all of Valkyrie’s exchange-traded funds (ETFs), including the Bitcoin and Ether Strategy ETF, the Bitcoin Miners ETF, and the Bitcoin Futures Leveraged Strategy ETF.
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