EddieJayonCrypto
13 Mar 24
European fund manager CoinShares has acquired Valkyrie Funds LLC, giving them control of Valkyrie's new Bitcoin exchange-traded fund (ETF) and sponsor rights. The move is part of CoinShares' growth strategy in the U.S. and is set to increase their assets under management by around $530 million acros...
European fund manager CoinShares has acquired Valkyrie Funds LLC, giving them control of Valkyrie's new Bitcoin exchange-traded fund (ETF) and sponsor rights. The move is part of CoinShares' growth strategy in the U.S. and is set to increase their assets under management by around $530 million across four funds.
The acquisition is another step in CoinShares' expansion plan, particularly focused on the U.S. market. CoinShares CEO Jean-Marie Mognetti expressed excitement about the move as part of their overall growth strategy. The acquisition also gives CoinShares rights to Valkyrie’s Bitcoin Miners ETF (WGMI), its Bitcoin and Ether Strategy ETF (BTF), and the Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX). CoinShares is set to gain $530 million of assets under management across these four funds as a result of the acquisition. This is a significant move for the European investment company, signaling its ambitions for growth and expansion.
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