Official: Coinshares acquires American Bitcoin ETF issuer Valkyrie

Official: Coinshares acquires American Bitcoin ETF issuer Valkyrie

“There is no plan B in Valkyrie”Jean-Marie Mognetti assured in February Capital when discussing a possible failure of the Valkyrie takeover. The asset manager’s CEO was right to believe this: Coinshares today formalized its acquisition of the US asset manager. With this operation, the French-British asset manager adds approximately $530 million in assets to its portfolio and strengthens its American presence, which had already been initiated by the launch of a hedge fund.

Above all, this acquisition makes Coinshares one of the issuers of famous Bitcoin spot ETF in the United States as Valkyrie is behind the fund called $BRRR, which owns the equivalent of $360 million worth of bitcoin. For Coinshares, the timing of this operation proves ideal, as it was initiated before the explosion of the valuations of these companies, justified by the success of ETFs. “There are few opportunities on the market. There are very few players so the opportunities are very limited and it is one of the last we can take advantage of, especially with the price of bitcoin that has risen and the launch of ETFs in the United States. Values ​​have exploded. Valkyrie could be the last acquisition that Coinshares can make at affordable prices.recognized Jean-Marie Mognetti during his interview with Capital.

Now the operator must focus on launching new products, including: “ETF specialized in bitcoin miners”, as the CEO told us. An activity that has never been so popular, especially on American soil market capitalizations that are exploding for companies specializing in mining and a halve (the halving of bitcoin issuance) that is fast approaching. Finally, Coinshares positions itself at another important moment: that of a possible authorization in the United States of a spot ETF backed by ether, the currency of the Ethereum blockchain. A product that the asset manager already knows well and markets on European soil.

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