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CoinShares Secures Exclusive Rights to Acquire Valkyrie Investments’ ETF Branch

CoinShares Secures Exclusive Rights to Acquire Valkyrie Investments’ ETF Branch

CoinShares, a European asset manager, has recently secured the option to acquire the exchange-traded fund (ETF) from Valkyrie Funds, a subsidiary of Valkyrie Investments, a key player in asset management in the United States.

This move marks CoinShares’ expansion into the American market, where numerous ETFs are awaiting approval.

The purchase option expires on March 21, 2024.

Details of a Multi-Million Dollar Agreement

The acquisition option will remain active until March 31, 2024, during which Valkyrie Funds will continue to operate independently. For now, the Jersey-based company has not disclosed the amount paid for this option or the details of the potential acquisition price.

Jean-Marie Mognetti, CEO of CoinShares, expressed his optimism about the growth of the cryptocurrency ETF market in the United States. He also highlighted the divergence between the European markets, where cryptocurrency exchange-traded products (ETPs) have existed since 2015, and the American market, which has not yet seen such developments.

The Future of CoinShares in the ETF Ecosystem

If the Valkyrie Bitcoin Fund is approved by the Securities and Exchange Commission (SEC), Valkyrie plans to incorporate CoinShares’ name into the ETF.

This initiative comes at a time when CoinShares, managing over $3.2 billion in assets, shows increasing optimism towards the American cryptocurrency ETF market.

This agreement between CoinShares and Valkyrie, beyond its impact on the two companies, could indicate a major shift in the landscape of cryptocurrency investments, particularly in the context of ETFs.

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