CoinShares obtains exclusive option to acquire Valkyrie Funds

ChainCatcher news, according to a report by PR Newswire, European digital asset investment firm CoinShares International Limited has announced that it has obtained an exclusive option to acquire Valkyrie Funds LLC from Valkyrie Investments Inc. Valkyrie Funds LLC is an investment advisory firm of a U.S. digital asset management company, specializing in actively managed cryptocurrency exchange-traded funds (ETFs). The option for CoinShares to acquire Valkyrie Funds from Valkyrie Investments is effective immediately and will expire on March 31, 2024.

As part of the acquisition option transaction, the two companies have finalized a brand licensing agreement. Throughout the acquisition option period, Valkyrie Investments will receive a limited, revocable global license to use the "CoinShares" name in the S-1 filing submitted to the U.S. Securities and Exchange Commission. If the U.S. Securities and Exchange Commission approves the Valkyrie Bitcoin Fund, Valkyrie Investments plans to use the CoinShares name, marking CoinShares' first foray into offering mainstream cryptocurrency passive products in the U.S. market.

The option grants CoinShares the exclusive right to purchase 100% of Valkyrie Funds from Valkyrie Investments, as well as all related rights to the Valkyrie Bitcoin Fund and any other unissued ETFs currently held by Valkyrie Investments. CoinShares' exercise of the acquisition option is subject to regulatory approval and consent. Valkyrie Funds will continue to operate as an independent entity until CoinShares completes any potential acquisition and executes the transaction.