CoinShares International is purchasing digital asset manager Valkyrie Funds after the U.S. Securities and Exchange Commission (SEC) approved the firm’s US spot market Bitcoin (BTC) exchange-traded fund.
In a new press release, European digital investment group CoinShares says it’s venturing into the US by exercising its option to acquire Valkyrie Funds, a move the firm says came as a direct result of the SEC’s decision.
“CoinShares’ decision to exercise this option comes as a direct result of SEC approval for the issuance of Valkyrie’s spot Bitcoin ETF, The Valkyrie Bitcoin Fund (BRRR), which commenced trading on Thursday 11th January 2024 on Nasdaq as part of the first cohort of issuers for such products in the US.
This move aligns with the positive developments in the US regulatory landscape and CoinShares’ strategy to expand its digital asset offerings in the US market.”
As stated by Jean-Marie Mognetti, the chief executive of CoinShares, in the press release,
“Exercising our option to acquire Valkyrie Funds aims at extending our European success in the US, offering unparalleled access to regulated digital asset products to American investors.
This expansion is a clear statement of our appetite for acquisition to support our ambition to be a global leader in the digital asset space.”
The SEC’s recent landmark decision, which saw the regulatory agency approve a slew of BTC ETFs after years of rejecting them, created the first-ever conduit between Wall Street and the digital assets industry.
The highly anticipated move allows investors to purchase shares and gain exposure to the top crypto asset by market cap without having to directly buy it.
The SEC approved all 11 applications to create spot market BTC ETFs, including those of VanEck, BlackRock, ARK Invest, Invesco, Fidelity, Franklin Templeton, and Grayscale.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Katynn/Natalia Siiatovskaia
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://dailyhodl.com/2024/01/12/coinshares-international-acquires-valkyrie-funds-after-approval-of-the-firms-us-spot-bitcoin-btc-etf/
- :is
- :not
- 11
- 2024
- a
- access
- acquire
- Acquires
- acquisition
- advice
- advised
- advisor
- Affiliate
- affiliate marketing
- After
- agency
- aims
- alerts
- Aligns
- All
- allows
- ambition
- American
- an
- and
- Anticipated
- any
- appetite
- applications
- approval
- approved
- ARE
- Ark
- ark invest
- AS
- asset
- Assets
- At
- BE
- beat
- before
- between
- Bitcoin
- Bitcoin ETF
- BlackRock
- BTC
- buy
- Buying
- by
- came
- cap
- chief
- Chief Executive
- class
- clear
- Cohort
- CoinShares
- comes
- commenced
- commission
- create
- created
- crypto
- crypto asset
- cryptocurrencies
- cryptocurrency
- daily
- decision
- delivered
- developments
- digital
- Digital Asset
- Digital Assets
- diligence
- direct
- directly
- do
- does
- due
- ETF
- ETFs
- European
- exchange
- Exchange Commission
- exchange-traded
- executive
- Exercise
- Expand
- expansion
- Exposure
- expressed
- extending
- fidelity
- Firm
- First
- first-ever
- For
- franklin
- fund
- funds
- Gain
- get
- Global
- Grayscale
- Group
- having
- high-risk
- highly
- HODL
- HTTPS
- image
- in
- Including
- industry
- International
- into
- Invesco
- Invest
- investment
- Investments
- Investors
- issuance
- issuers
- IT
- ITS
- January
- landmark
- landscape
- latest
- Latest News
- leader
- Loses
- Making
- manager
- Market
- Market Cap
- Marketing
- May..
- miss
- move
- Nasdaq
- New
- news
- nor
- note
- of
- offering
- Offerings
- on
- Opinions
- Option
- or
- our
- own
- part
- participates
- plato
- Plato Data Intelligence
- PlatoData
- please
- positive
- press
- Press Release
- Products
- purchase
- purchasing
- recent
- recommend
- regulated
- regulatory
- regulatory landscape
- release
- responsibility
- result
- Risk
- s
- saw
- says
- SEC
- Securities
- Securities and Exchange Commission
- Selling
- Shares
- should
- Space
- Spot
- Spot Bitcoin Etf
- spot market
- stated
- Statement
- Strategy
- street
- success
- such
- support
- T
- templeton
- that
- The
- The Daily Hodl
- their
- Them
- this
- those
- thursday
- to
- top
- trades
- Trading
- transfers
- u.s.
- U.S. Securities
- U.S. Securities and Exchange Commission
- U.S. Securities and Exchange Commission (SEC)
- unparalleled
- us
- VALKYRIE
- VALKYRIE FUNDS
- VanEck
- Wall
- Wall Street
- which
- with
- without
- years
- you
- Your
- zephyrnet