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CoinShares International Limited announced the acquisition of Valkyrie Funds. 
A press release dated Jan. 12 <a href="https://www.prnewswire.com/news-releases/coinshares-exercises-option-to-acquire-valkyrie-funds-302033313.html" target="_blank" rel="noopener">stated</a> that CoinShares has acquired Valkyrie Funds, a digital asset management investment company in the United States. The statement said the purchase decision is contingent on the U.S. Securities and Exchange Commission’s (<a href="https://crypto.news/tag/sec/">SEC</a>) approval of Valkyrie’s spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) ETF. 
Upon completion of the acquisition, <a href="https://crypto.news/tag/CoinShares/">CoinShares</a>‘ existing assets under management (AUM), currently $4.5 billion, is expected to increase by approximately $110 million. 
However, the deal is now pending completion of satisfactory due diligence, completion of the necessary legal agreements and final approval of the company’s board of directors. Until then, Valkyrie will maintain operational independence. 
<blockquote class="wp-block-quote"> 
 “Once finalised, this will lead to the direct integration of Valkyrie’s’ funds and operations into the CoinShares group.” <cite>CoinShares release</cite>
</blockquote> 
 You might also like: <a href="https://crypto.news/coinshares-eyes-acquisition-of-valkyrie-funds-to-expand-into-u-s-crypto-etf-market/"> CoinShares eyes acquisition of Valkyrie Funds to expand into U.S. crypto ETF market </a> 
In June 2023, a subsidiary of Valkyrie Investments <a href="https://crypto.news/valkyries-spot-bitcoin-etf-proposal-is-now-on-secs-nasdaq-rulemaking-list/">filed</a> an application with the SEC to launch a Bitcoin-based ETF. The Trust issued shares designed to provide a cost-effective and convenient way to invest in Bitcoin. 
In July 2023, Valkyrie also <a href="https://crypto.news/valkyrie-submits-application-for-spot-bitcoin-etf-partners-with-coinbase/">filed</a> with the SEC to launch an Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) ETF that would invest in Ethereum futures on the CME, North America’s largest financial derivatives market, and high-quality instruments, particularly U.S. Treasury bonds. 
 Read more: <a href="https://crypto.news/valkyrie-and-ark-21shares-file-bitcoin-etf-registration-of-securities-with-sec/"> Valkyrie and ARK 21Shares file Bitcoin ETF registration of securities with SEC </a>

CoinShares exercises option to acquire Valkyrie Funds

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