CoinShares announced the acquisition of Valkyrie Funds LLC, the investment arm of US digital asset manager Valkyrie Investments Inc., which specializes in actively managed cryptocurrency exchange-traded funds. The acquisition decision is a direct response to the approval of Valkyrie's spot Bitcoin ETF (BRRR) by the US Securities and Exchange Commission (SEC).

Upon completion of the transaction, CoinShares' assets under management (AUM) will increase by $110 million, reflecting the current AUM of the existing Valkyrie ETF products: The Valkyrie Bitcoin Fund (Nasdaq: BRRR), The Valkyrie Bitcoin and Ether Strategy ETF (Nasdaq: BTF) and The Valkyrie Bitcoin Miners ETF (Nasdaq: WGMI).

The acquisition of Valkyrie Funds is part of CoinShares' strategy to expand its digital asset offerings in the US market.