UK-based crypto asset manager CoinShares exercised its call option on Valkyrie Funds.
Coinshares has acquired rival asset manager Valkyrie Investments, according to a Jan. 12 press release. cryptocurrency ETF unit He used his special option right to purchase it.
Valkyrie was released by the US Securities and Exchange Commission (SEC) on January 10, 2020.he Valkyrie Bitcoin Fund (BRRR) spot called Bitcoin ETF received approval for. CoinShares said that it decided to exercise the option right after the ETF application received approval from the SEC.
CoinShares also believes that positive regulatory developments in the USA will improve its options in the country’s market. compatible with strategies for He stated that it was.
Upon completion of the acquisition, CoinShares will now $4.5 billion assets under management Valkyrie With the addition of ETF products $110 million is estimated to increase.
The list of ETFs that will switch from Valkyrie to CoinShares is as follows; The Valkyrie Bitcoin Fund (Nasdaq: BRRR), The Valkyrie Bitcoin and Ether Strategy ETF (Nasdaq: BTF) and The Valkyrie Bitcoin Miners ETF (Nasdaq: WGMI).
CoinShares CEO Jean-Marie Mognetti said in his statement that they lead Europe’s digital asset industry. All cryptocurrency products They own 40% CEO said, with the acquisition Their success in Europe in the USA He stated that they will continue to do so.
To exercise CoinShares’ right to purchase Until March 31, 2024 It had a duration.