CNSRF - Leading European Investment Firm Secures Option to Acquire Digital Asset Manager

2023-11-16 10:56:28 ET

The possibility of approval of both %Bitcoin and %Ether ETFs could drive further %Crypto adoption in the United States, and this firm just secured options to acquire the investment advisory business of a U.S. digital asset manager specializing in crypto ETFs.

%CoinShares (OTCQX: CNSRF), the leading European investment company specializing in digital assets, announced in a press release that it has secured an exclusive option to acquire Valkyrie Funds LLC, the U.S. digital asset manager's investment advisory business specializing in actively managed cryptocurrency exchange-traded funds, from Valkyrie Investments Inc.

CoinShares (OTCQX: ) currently commands the largest market share and oversees more than $3.2B in AUM. The strategic acquisition option is the next step in CoinShares' expansion into the U.S. market following the launch of CoinShares Hedge Fund Solutions in September 2023. As part of the acquisition option deal, the two companies have finalized a brand licensing agreement.

Shares were trading at $3.495 in morning trade.