CoinShares Bolsters Global AUM to $7.3 Billion with Valkyrie Acquisition

CoinShares International Limited the European investment company specializing in digital assets, has finalized its acquisition of Valkyrie Funds LLC and the investment advisory business of Valkyrie Investments Inc., along with the Sponsor rights to the Valkyrie Bitcoin Fund, a physically-backed Bitcoin ETF.

CoinShares' Global AUM Reaches Approximately $7.3 Billion

This acquisition, which incorporates approximately $530 million of assets under management (AUM) from Valkyrie, has propelled CoinShares' global AUM to approximately $7.3 billion as of March 11, 2024. CoinShares had previously secured the option to acquire Valkyrie in November 2023, and the acquisition process commenced following the launch of Valkyrie Bitcoin Fund in January 2024.

Frank Spiteri, CoinShares' Head of Asset Management, remarked: "As Europe's leading investment company specialising in digital assets, CoinShares has consistently demonstrated trust and reliability with its crypto products and services since 2014. Our expertise is unparalleled in the crypto space, allowing us to serve not just as leaders but also as educators for our clients. We are committed to guiding them through this dynamic journey, which is supported by our seasoned research team and innovative solutions. Our promise is to be a trusted partner in navigating the complexities of digital assets."

🚨 CoinShares is proud to announce the completion of its acquisition of Valkyrie Funds LLC, the investment advisory business of Valkyrie Investments Inc. and the Sponsor rights to the Valkyrie Bitcoin Fund, the physically-backed Bitcoin ETF.Read more: https://t.co/ZxVhnP6BUx pic.twitter.com/jxxsFQwjrR

Diverse Product Offerings: Showcasing $WGMI and $BTF

Moving forward, CoinShares aims to leverage the infrastructure of the Valkyrie ETF to expand its US asset management operations, focusing on product innovation and market distinction. The new platform will function as a forward-looking thematic asset manager for the US market, drawing on the success of unique thematic products such as $WGMI, recognized as the highest-performing non-leveraged ETF across all sectors in 2023, and the recently introduced $BTFX, a 2x leveraged bitcoin futures ETF.

Jean-Marie Mognetti, the CEO of CoinShares, commented on the acquisition: "The Valkyrie acquisition is yet another step in our growth strategy with a special focus this time in the U.S. This acquisition brings an additional $530 million AUM to CoinShares, which makes it a top line contributor from day one. More importantly, it broadens our product offerings, strengthens our innovation capacity, and increases by a factor of 15 our total addressable market."