Digital asset manager CoinShares announced securing an exclusive option to acquire Valkyrie Funds – the exchange-traded fund (ETF) division of Valkyrie Investments. The strategic acquisition option represents the next phase of CoinShares’ penetration into the US market, following the launch of CoinShares Hedge Fund Solutions in September this year.
The option for CoinShares to acquire Valkyrie Funds is currently active and will be in force until March 31, 2024. However, the amount paid by the European asset manager for the option and the potential acquisition costs remain undisclosed.
CoinShares Eyes US Expansion
CoinShares CEO Jean-Marie Mognetti remarked on the development and noted the fragmented nature of the global ETF market. In an official statement, the exec highlighted the establishment of crypto spot ETPs in Europe since 2015, a trend expected to be replicated in the US.
According to Mognetti, this divergence in market evolution poses both challenges and substantial oppor
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