Breaking: Bloomberg Analyst Says CoinShares’ Acquisition Of Valkyrie Funds Is A Big News

CoinShares, a leading European crypto ETF issuer, has secured an exclusive option to acquire Valkyrie Funds from now until its expiry on March 31, 2024. It is a strategic move towards market leadership and bolstering a strong presence in the US, strengthening to create a global one-stop-shop in digital asset investments. Bloomberg analyst says it’s a big move.
CoinShares Gets Right To Acquire Valkyrie Funds
According to a press release on November 16, CoinShares has secured an exclusive option to acquire Valkyrie Funds, the investment advisory business of Valkyrie Investments. The option to acquire Valkyrie Funds from Valkyrie Investments is active until March 31, 2024.
The acquisition of Valkyrie marks the entry of European crypto ETF issuer CoinShares into the U.S. market, strengthening digital asset management expertise globally.
Jean-Marie Mognetti, CEO of CoinShares, said:
“The global ETF market is fragmented. The establishment of crypto spot ETPs in Europe since 2015, a development about to be mirrored in the U.S., is the perfect illustration.”
Also Read: BlackRock Ethereum ETF Is Bearish Says Blockstream CEO Adam Back
Bloomberg analyst James Seyffart asserts potential acquisition of Valkyrie Funds by Coinshares is a big move for the companies, which will also bring ETF expertise to the US. He
Furthermore, Valkyrie Investments plans to incorporate CoinShares’ name if the U.S. SEC approves the Valkyrie Bitcoin Fund. Valkyrie has filed for a spot Bitcoin ETF with the U.S. SEC, with the conductive discussion hinting at potential approval triggering a massive rally in BTC price.
BTC price pares earlier gains, falling more than 3% in the past 24 hours, with the price currently trading at $36,400. The 24-hour high and low are $36,302 and $37,964, respectively. Furthermore, the trading volume has increased by 22% in the last 24 hours, indicating a rise in the interest of traders.
Also Read: Crypto Market Selloff – Here’s Why BTC, ETH, XRP, SOL Fell After BlackRock Ether ETF News
- Bybit Lists Ripple’s RLUSD Following BlackRock and VanEck Integration
- SWIFT Plans Stablecoin and On-Chain Messaging Pilot on Linea, Challenging Ripple
- Breaking: U.S. PCE Inflation Rises To 2.7% YoY, Bitcoin Bounces
- Breaking: $10 Trillion Vanguard Plans to Offer Crypto ETFs to Brokerage Clients
- BlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC Yield
- Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%