Crypto asset manager CoinShares announced on January 12 that it has confirmed the execution of its option to acquire Valkyrie Funds after the successful approval and launch of Tennessee-based Valkyrie Investments’ spot bitcoin exchange-traded fund (ETF).
In addition to gaining approval for the new spot Valkyrie Bitcoin Fund (BRRR), this move aligns with the positive developments in the US regulatory landscape and CoinShares’ strategy to expand its digital asset offerings in the U.S. market.
CoinShares is planning to boost its total assets under management (AUM) by around $110 million through a new acquisition, and this additional investment will be added to its existing AUM, which is currently at $4.5 billion.
CoinShares has announced that they are exercising their option due to the SEC’s approval of Valkyrie’s spot Bitcoin ETF, known as The Valkyrie Bitcoin Fund (BRRR).
Also Read: CoinShares’ Komainu Secures UK Crypto Custodian Registration
