Published on January 12, 2024 10:51 GMT+00:00edited on January 12, 2024 10:54 GMT+00:00

Investment firm CoinShares says it has exercised the option to buy Valkyrie Funds following its spot bitcoin exchange-traded fund approval and debut.

Valkyrie Funds is an investment advisory business focusing on spot bitcoin ETFs from Valkyrie Investments. On Wednesday, Valkyrie's spot bitcoin ETF received SEC approval. It started trading on Thursday.

"Exercising our option to acquire Valkyrie Funds aims at extending our European success in the U.S., offering unparalleled access to regulated digital asset products to American investors. This expansion is a clear statement of our appetite for acquisition to support our ambition to be a global leader in the digital asset space," said CoinShares CEO Jean-Marie Mognetti in a statement.

Following the acquisition, CoinShares anticipates …