CoinShares closes buy of US bitcoin ETF issuer’s fund division

Europe-focused investment firm is set to expand its US asset management business after taking over ETFs with $530 million in combined assets

article-image

CoinShares and Adobe Stock modified by Blockworks

share

CoinShares completed its takeover of Valkyrie’s fund business Tuesday as part of its bid to expand its asset management footprint in the US.

Specifically, the Europe-focused investment company bought the Tennessee-based crypto asset manager’s actively managed ETF business. Details of the deal were not disclosed.

CoinShares said it had secured an option to buy Valkyrie’s fund division in November. That option was active until March 31, 2024.

With the purchase, CoinShares is set to gain roughly $530 million of assets under management across four funds. 

This includes one of the 10 US spot bitcoin ETFs — the Valkyrie Bitcoin Fund (BRRR) — as well as the firm’s Bitcoin Miners ETF (WGMI); its Bitcoin and Ether Strategy ETF (BTF); and the Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX).   

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

CoinShares aims to rebrand the four Valkyrie funds by the summer, the company said in a Tuesday news release.

CoinShares CEO Jean-Marie Mognetti said in a statement that the Valkyrie acquisition is a step toward moving deeper into the US after a decade of focusing on European markets.  

“It broadens our product offerings, strengthens our innovation capacity and increases by a factor of 15 our total addressable market,” Mognetti added.

Valkyrie is perhaps best known for being one of the issuers to gain Securities and Exchange Commission approval in January to launch a spot bitcoin ETF.  

Though among the smaller funds in the segment, BRRR has notched net inflows of $308 million since launching on Jan. 11, according to BitMEX Research. The fund had eclipsed $400 million in assets at market close on Monday, the data shows.  

Valkyrie was second to the US market — behind ProShares — with an ETF that invested in bitcoin futures contracts, launching that offering in October 2021. That fund started to also give investors exposure to ether futures contracts last October.   

More recently, the company launched its Bitcoin Futures Leveraged Strategy ETF last month.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Cover Chart.png

Research

The tokenization wave has arrived for trading cards, with protocols like Collector Crypt and Phygitals leading the charge. By tapping into the same dopamine loops that made Pop Mart’s Labubu blind boxes a phenomenon, their gacha mechanics show how TCGs can thrive in a crypto-native setting. Yet with razor-thin margins, limited product differentiation, and hype-driven cycles, building a lasting moat is a challenge. In my latest report, I share insights from the Collector Crypt and Phygitals teams on the opportunities and risks shaping onchain TCGs and what comes next for them.

article-image

Acquisition of Copium Capital’s strategies strengthens Barter’s offering, but raises questions about solver concentration

article-image

The company says the acquisition strengthens its push to simplify DeFi for consumers

by Blockworks /
article-image

Cboe Futures Exchange aims to introduce long-dated crypto contracts under US regulatory oversight

by Blockworks /
article-image

Client engineers and coordinators earn far less than researchers, despite playing key roles in network stability

article-image

One of the new hires was formerly FTX’s global head of payments

article-image

Tempo’s announcement reignites debates over Ethereum fast finality and whether corporate chains can ever be truly neutral