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CoinShares Acquires Valkyrie’s ETF Business in Landmark Move Following SEC’s Bitcoin ETF Approval

Published 01/13/2024, 12:05 AM
Updated 01/13/2024, 12:15 AM
© Reuters. CoinShares Acquires Valkyrie’s ETF Business in Landmark Move Following SEC’s Bitcoin ETF Approval
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  • The deal boosts CoinShares’ assets, reflecting growth and innovation in the crypto sector.

  • CoinShares’ acquisition post-SEC approval signals confidence in Bitcoin ETFs’ mainstream potential.

  • This strategic move highlights a significant shift towards integrating digital assets in traditional finance.

CoinShares, a prominent player in the cryptocurrency investment space, has announced a significant acquisition in a strategic move poised to reshape the digital asset industry landscape. The company has exercised its option to acquire a rival exchange-traded funds (ETF) business from Valkyrie. This decision follows closely on the heels of the U.S. Securities and Exchange Commission’s (SEC) historic approval of ETFs directly investing in Bitcoin.

The landmark approval by the SEC marks a turning point. It heralds the legitimization of cryptocurrencies in mainstream financial markets. Valkyrie’s Bitcoin ETF is among the newly approved products under the ticker BRRR.

This fund commenced trading on Thursday and witnessed a remarkable debut, with approximately 676,500 shares traded. The approval of nearly a dozen funds, with a combined first-day trading volume of $4…

The post CoinShares Acquires Valkyrie’s ETF Business in Landmark Move Following SEC’s Bitcoin ETF Approval appeared first on Coin Edition.

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