Today crypto asset manager CoinShares said it is acquiring smaller crypto fund manager Valkyrie Funds to accelerate its entrance into the U.S. market. It exercised an existing option to buy the company.
CoinShares manages exchange-traded products with $4.5 billion in assets under management. With headquarters in Jersey, the company’s primary presence is in Europe, with its Swedish subsidiary managing $2.5 billion in assets.
One of the 11 spot Bitcoin exchange traded funds (ETFs) approved by the U.S. SEC this week is Valkyrie’s Bitcoin Fund. It has around $110 million in assets under management across three ETFs.
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