CoinShares Secures Strategic Option to Acquire Valkyrie Funds
- None.
- None.
- This option to acquire is the latest step in CoinShares'
U.S. expansion, following the launch of Hedge Fund Solutions in September 2023. - CoinShares has also entered into a brand licensing agreement for Valkyrie's products notably its pending Bitcoin spot ETF.
- Valkyrie will continue to operate as an independent entity until CoinShares decides to exercise its option which remains open until the end of Q1 2024.
SAINT HELIER, Jersey, Nov. 16, 2023 /PRNewswire/ -- CoinShares International Limited ("CoinShares'' or "the Company") (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European investment company specialising in digital assets, today announced it has secured an exclusive option to acquire Valkyrie Funds LLC ("Valkyrie Funds"), the
CoinShares' option to acquire Valkyrie Funds from Valkyrie Investments, is active from now until its expiry on 31 March 2024.
CEO of CoinShares, Jean-Marie Mognetti, commented on today's news: "The global ETF market is fragmented. The establishment of crypto spot ETPs in
Valkyrie Fund's deep understanding of the U.S. market and track record of developing investment products for crypto exposure aligns perfectly with our vision and operational ethos. CoinShares is looking forward to exploring this acquisition option and bringing, with the know-how of Valkyrie's founders, premier digital asset products to American investors."
For the last 10 years, CoinShares has established itself as the leading player within the European crypto exchange traded product market, where it currently commands the largest market share and oversees more than
As part of the acquisition option deal, the two companies have finalised a brand licensing agreement. Throughout the option period, Valkyrie Investments is granted a limited, revocable global licence to use the "CoinShares" name for its S-1 filings with the SEC. Should the SEC approve the Valkyrie Bitcoin Fund, Valkyrie Investments plans to incorporate the CoinShares name, signifying CoinShares' first venture into offering a mainstream crypto passive product in the U.S. market.
"At the heart of our mission is to expand high-quality digital asset investment opportunities, joining CoinShares through this move underscores this shared ambition and vision", stated Leah Wald, CEO of Valkyrie. "CoinShares is a recognised, global leader and first-mover in the digital asset investment landscape with exceptional market expertise and an innovative spirit. Together, with Valkyrie's established
The option grants CoinShares the exclusive right to purchase
ABOUT COINSHARES
CoinShares is the European leading investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in
ABOUT VALKYRIE
Valkyrie is a specialised alternative financial services firm at the intersection of traditional finance and the emerging cryptocurrency sector whose affiliates aim to offer asset management, research and other services. Headquartered in
For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com
PRESS CONTACT
CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com
+33 6 72 44 07 17
M Group Strategic Communications
Peter Padovano
press@coinshares.com
This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 4PM CET on Thursday 16th November 2023.
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SOURCE CoinShares Group
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