European fund manager CoinShares has completed its purchase of Valkyrie Funds LLC.
The Ecu investment company—which focuses on digital assets—stated inside a Tuesday announcement it had completed the move. The purchase does mean that CoinShares has sponsor legal rights to Valkyrie’s new Bitcoin exchange-traded fund (ETF).
CoinShares Chief executive officer Jean-Marie Mognetti stated the move was “yet another part of our growth strategy, having a special focus this time around around the U.S.”
Jersey-based CoinShares announced its intend to buy Valkyrie’s ETF business in November.
The Registration gave the eco-friendly light to 11 place Bitcoin Bitcoin ETFs on The month of january 11, letting them trade on U.S. stock markets. Ten have since launched, and also have seen massive growth—buoying all of those other digital assets market.
The first is the Valkyrie Bitcoin Fund, which trades on Nasdaq underneath the BRRR ticker. CoinShares will have total control from the product, along with the firm’s Bitcoin Miners ETF (WGMI), its Bitcoin and Ether Strategy ETF (BTF), and also the Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX).
Using the move, CoinShares is placed to achieve around $530 million of assets under management across four funds.
The BRRR ETF is among the smaller sized Bitcoin ETFs, with $297.3 million in assets under management. To check, BlackRock’s iShares Bitcoin Trust presently has over $14 billion.
Edited by Ryan Ozawa.
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