CoinShares secures option to acquire Valkyrie Funds

CoinShares International has secured an exclusive option to acquire Valkyrie Funds, the U.S. digital asset manager’s investment advisory business specialising in actively managed cryptocurrency exchange traded funds, from Valkyrie Investments. CoinShares’ option to acquire Valkyrie Funds from Valkyrie Investments, is active from now until its expiry on 31 March 2024. As part of the acquisition option deal, the two companies have finalised a brand licensing agreement. Throughout the option period, Valkyrie Investments is granted a limited, revocable global licence to use the “CoinShares” name for its S-1 filings with the SEC. Should the SEC approve the Valkyrie Bitcoin Fund, Valkyrie Investments plans to incorporate the CoinShares name, signifying CoinShares’ first venture into offering a mainstream crypto passive product 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 of Valkyrie Investments’ associated rights with the Valkyrie Bitcoin Fund and any other unlaunched ETFs currently held by Valkyrie Investments. CoinShares’ exercise of the acquisition option is contingent on regulatory approvals and consents, satisfactory due diligence and the completion of requisite legal agreements. Valkyrie Funds will continue to operate as an independent entity until any potential acquisition by CoinShares is finalised and the transaction is executed.