CoinShares acquires strategic option to acquire Valkyrie Funds

Digital currency investment company CoinShares announced the successful acquisition of a strategic option from Valkyrie Funds, which is valid until March 31, 2024. Valkyrie Funds is an investment advisory arm of an American digital asset management company specializing in actively managed cryptocurrency exchange-traded funds. Within the framework of this option transaction, the two companies have entered into a brand licensing agreement. Valkyrie Investments is granted a limited, revocable, worldwide license to use the "CoinShares" name in its S-1 filings with the U.S. Securities and Exchange Commission (SEC) throughout the option term. If the SEC approves the Valkyrie Bitcoin Fund, Valkyrie Investments intends to integrate the CoinShares brand into its name, which would mark CoinShares’ first mainstream cryptocurrency passive product in the U.S. market. The exercise of the option by CoinShares will be subject to regulatory approvals, consents, satisfactory due diligence and the conclusion of necessary legal agreements. Valkyrie Funds will continue to operate as an independent entity until the potential acquisition is completed and the transaction is executed. (PR Newswire)