CoinShares announces that it has acquired a call option on Valkyrie. It climbs from the bottom to the… bottom.
Shock in the world of fund managers who also work with crypto products. According to the latest news coming from the United States, CoinShares, which is already active in Europe, has acquired the right to acquire 100% of Valkyrie Funds, which also includes the Bitcoin Spot ETF approved in the United States. From the very beginning, we state that this is an option and not an obligation to complete the purchase.
According to the agreement, CoinShares will have until March 31, 2024 to complete the purchase, after which the option will no longer be exercisable. Valkyrie is currently one of the most knowledgeable managers in the crypto and Bitcoin world.
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Shock in the world of “crypto” funds and Bitcoin: CoinShares has a buy option on Valkyrie
On the one hand there is CoinShares, a European group that already manages several thematic funds Bitcoin AND cryptoon the other hand there is Valkyrie, one of the most important managers in the sector. On the table is a contract for a call option by CoinShares for Valkyrie, which must be exercised by the end of March 2024.
What is at stake? At stake are the funds of one of the most important managers in the space, who some time ago also launched a campaign to change the management of one of the most important private funds in the Bitcoin world, GBTC, a trust managed by Grayscale that has more than 630,000 BTC to its credit.
It’s unclear what prompted CoinShares, which is based in the United Kingdom, to try to take over Valkyrie, given that there have been no signs of such operations, at least to date.
The acquisition opportunity for Valkyrie accelerates our expansion in the United States and the development of our digital asset management expertise globally.
This is the message that Jean-Marie Mognetti, who is the CEO of CoinShares, announced to the world about the acquisition of the right to buy.
Also in the middle is the Bitcoin Spot ETF
The acquisition also applies to products currently in the approval process, such as the Bitcoin Spot ETF which is part of a group of 12 awaiting SEC approval.
For this purpose, a licensing agreement was signed that will allow Valkyrie to use the CoinShares name for current and future applications.
This is an important change in the situation of managers who mainly, if not exclusively, deal with cryptocurrencies.