Bitcoin ETF

Spot

<div class="watcher-guru">
 <p>CoinShares International Limited, a prominent player in digital asset investment listed on Nasdaq Stockholm (CS) and US OTCQX (CNSRF), has revealed its strategic initiative to acquire <a rel="noopener noreferrer nofollow" title="Valkyrie" href="https://thebittimes.com/tag/valkyrie.html">Valkyrie</a> Funds LLC, a U.S.-based digital asset manager specializing in <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> exchange-traded funds (ETFs). This strategic move follows the recent approval by the Securities and Exchange Commission (SEC) for <a rel="noopener noreferrer nofollow" title="Valkyrie" href="https://thebittimes.com/tag/valkyrie.html">Valkyrie</a>’s spot Bitcoin ETF. It is also known as <a rel="noopener noreferrer nofollow" title="Valkyrie" href="https://thebittimes.com/tag/valkyrie.html">Valkyrie</a> Bitcoin Fund (Nasdaq: BRRR), which has commenced trading on Nasdaq.</p>
 <h4 class="wp-block-heading" id="h-strategic-acquisition-for-global-expansion">Strategic Acquisition for Global Expansion</h4>
 <p>Recognized as a leader in digital asset management in Europe, CoinShares views the acquisition of Valkyrie Funds as a crucial step. This is with regard to expanding its success from the European market to the United States. This strategic move is well-timed following the SEC’s green light for Valkyrie’s spot Bitcoin ETF. It further highlights CoinShares’ dedication to delivering regulated digital asset products to American investors.</p>
 <h4 class="wp-block-heading" id="h-boosting-assets-under-management-aum">Boosting Assets Under Management (AUM)</h4>
 <p>The acquisition is set to elevate CoinShares’ assets under management (AUM) by an estimated $110 million. It represents the current AUM within <a rel="noopener noreferrer nofollow" title="Valkyrie" href="https://thebittimes.com/tag/valkyrie.html">Valkyrie</a>’s existing ETF products. <a rel="noopener noreferrer nofollow" title="Valkyrie" href="https://thebittimes.com/tag/valkyrie.html">Valkyrie</a> Funds, headquartered in Nashville, is renowned for providing exposure to digital assets through traditional financial instruments. It is led by experienced asset managers with backgrounds in reputable financial institutions.</p>
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 <h4 class="wp-block-heading" id="h-current-aum-and-operational-autonomy">Current AUM and Operational Autonomy</h4>
 <p>CoinShares currently manages an AUM of $4.5 billion. Furthermore, the acquisition will encompass Valkyrie’s existing ETF products, including Valkyrie Bitcoin and Ether Strategy ETF (Nasdaq: BTF) and Valkyrie Bitcoin Miners ETF (Nasdaq: WGMI). Jean-Marie Mognetti, CEO of CoinShares, underscored the strategic significance of this acquisition. The CEO emphasized the goal of offering regulated digital asset products to the American market.</p>
 <p>Jean-Marie Mognetti highlighted the acquisition as a pivotal bridge to extend CoinShares’ European success into the U.S. market. Leah Wald, CEO of Valkyrie Funds, expressed excitement about the collaboration. Wald further cited the synergies between the two entities for making strides in the American digital asset investment market.</p>
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 <p><strong>Also Read: Elizabeth Warren Says SEC Was Wrong In Bitcoin ETF Decision</strong></p>
 <h4 class="wp-block-heading" id="h-pending-steps-and-operational-independence">Pending Steps and Operational Independence</h4>
 <p>The successful completion of the acquisition is contingent upon satisfactory due diligence, finalizing necessary legal agreements, and securing approval from CoinShares’ board. Until the acquisition is fully executed, <a rel="noopener noreferrer nofollow" title="Valkyrie" href="https://thebittimes.com/tag/valkyrie.html">Valkyrie</a> Funds will maintain its operational independence.</p>
 <p>This firm’s move is anticipated to pave the way for the direct integration of <a rel="noopener noreferrer nofollow" title="Valkyrie" href="https://thebittimes.com/tag/valkyrie.html">Valkyrie</a>’s funds and operations into the CoinShares group. Additionally, this would provide investors with a comprehensive suite of regulated digital asset products.</p>
 <p><strong>Also Read: Spot Bitcoin ETF Trading Volume surpasses $4.5B in it’s First Day</strong></p>
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<div class="cs-entry__tags">
 <ul>
  <li>bitcoin</li>
  <li>btc</li>
  <li>crypto</li>
  <li>cryptocurrency</li>
  <li>Valkyrie</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinshares-joins-spot-bitcoin-etf-race-with-valkyrie-funds-merger-tbt76399.html">https://thebittimes.com/coinshares-joins-spot-bitcoin-etf-race-with-valkyrie-funds-merger-tbt76399.html</a></p>

Coinshares Joins Spot Bitcoin ETF Race With Valkyrie Funds Merger

TheBitTimes

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