CoinShares has completed the acquisition of Valkyrie Funds, which includes the sponsorship rights to the firm's spot Bitcoin ETFs.
CoinShares has also acquired ownership of Valkyrie Investments, Valkyrie's investment advisory firm, and the sponsorship rights to its physically-backed Bitcoin ETF, the Valkyrie Bitcoin Fund.
The agreement includes a three-year earn-out period, after which the acquisition price will be determined based on Valkyrie's financial performance.
In addition, the acquisition gives CoinShares control over other Valkyrie ETFs, including the Valkyrie Bitcoin and Ether Strategy ETF, the Valkyrie Bitcoin Miners ETF and the Valkyrie Bitcoin Futures Leveraged Strategy ETF.