CoinShares to take over Valkyrie now that spot bitcoin ETF is live

Europe-focused CoinShares is set to take over the fund division of Valkyrie Investments as part of an expansion following the landmark approval of US spot bitcoin ETFs. 

Valkyrie’s spot bitcoin fund was among 10 such ETFs that began trading Thursday — the first investment products of that type cleared by the Securities and Exchange Commission.

Now, crypto-focused investment firm CoinShares has exercised its option to acquire Valkyrie Funds as a direct result of that SEC approval, the company said in a Friday news release.

The move aims at extending the company’s European success in the US, CoinShares CEO Jean-Marie Mognetti said in a statement. CoinShares products hold roughly…

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