CoinShares, a leading European digital asset investment company, has acquired Valkyrie Funds and all its spot Bitcoin ETF shares. CoinShares’ global hold is enhanced through this transaction, raising its assets under management to $7.3 billion.
The firm has also obtained the sponsor rights for its physically-backed Bitcoin BTC and the company’s investment advisory division, Valkyrie Investments. On March 12, CoinShares unveiled the $71.11 million Valkyrie Bitcoin Fund ETF.
Jean Marie Mognetti, who is the CEO of CoinShares, stated:
“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 in assets under management 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 our total addressable market by a factor of 15.”
However, this news comes at a time when the price of Bitcoin ETFs has been taking a gigantic leap and set the record by touching an all-time high of $71,415 on the record date of March 11th. The Bitwise Bitcoin ETF reached a new height of $2 billion in assets under management, according to Dune data, making it a contender for the most successful fund, with its official launch being a significant factor in its success.
Experts are mentioning that a sell-side liquidity crunch may erupt by September as a result of the astonishing growth of the Bitcoin ETF, unless institutional trading is preserved on the current scale.
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