Posted 1/12/2024, 10:57:00 AM
CoinShares Acquires Valkyrie's Bitcoin ETF Unit, Gains US Foothold After Spot ETF Debut
- CoinShares exercises option to acquire Valkyrie Investments' ETF unit, adding US presence after bitcoin spot ETFs debut
- Acquisition includes Valkyrie's Bitcoin Strategy ETF, Bitcoin Miners ETF, and spot bitcoin ETF that traded $9.3M on first day
- Deal adds $110M assets under management to CoinShares' existing $4.5B; terms not disclosed
- CoinShares cites European success with 40% market share of crypto ETF assets as expertise to leverage in US
- CoinShares share price falls 1.83% day after deal announced amid volatility from bitcoin spot ETF launch