CoinShares’ global assets under management (AUM) increased to approximately $7.3 billion following the acquisition.
CoinShares, a European digital asset investment firm, has completed the acquisition of Valkyrie Funds LLC, including the sponsor rights to the firm’s spot Bitcoin exchange-traded funds (ETFs).
As part of the deal, CoinShares has also acquired the firm’s investment advisory business, Valkyrie Investments Inc., and the sponsor rights for its physically-backed Bitcoin ETF, the Valkyrie Bitcoin Fund ($BRRR), CoinShares announced on March 12.
The acquisition price will be settled at the end of a three-year earnout period based on Valkyrie’s financial results. The deal also puts Valkyrie’s other ETFs under CoinShares’ management, including the Valkyrie Bitcoin and Ether Strategy ETF ($BTF), the Valkyrie Bitcoin Miners ETF ($WGMI), and the Valkyrie Bitcoin Futures Leveraged Strategy ETF ($BTFX).
