CoinShares buying rights to Valkyrie's crypto ETF unit - Web 3.0 business opportunities.
CoinShares gets buying rights to Valkyrie’s crypto ETF unit

CoinShares Secures Option to Acquire US ETF Unit

European digital asset manager CoinShares has secured the exclusive option to acquire Valkyrie Funds, the exchange-traded fund (ETF) unit of its United States competitor, Valkyrie Investments. This includes the Valkyrie Bitcoin Fund, which is awaiting U.S. approval.

CoinShares said on Nov. 17 that this acquisition would allow the firm to expand to the U.S., which is expected to become the epicenter for ETF offerings. The firm’s CEO, Jean-Marie Mognetti, added that he hopes the Valkyrie acquisition will help it capitalize on the current fragmented global ETF market.

“The establishment of crypto spot ETPs in Europe since 2015, a development which is soon to be mirrored in the U.S., is the perfect example of the evolution of web 1.0 to 3.0,” said Mognetti. “This disparity in market evolution presents both challenges and significant business opportunities.”

The option will remain active until March 31, 2024. For now, Valkyrie Funds will continue to operate as an independent entity until an acquisition by CoinShares is finalized.

The CoinShares and Valkyrie Bitcoin Fund Partnership

CoinShares and Valkyrie recently agreed to a brand licensing term that will allow the CoinShares name to be used in S-1 filings to the U.S. Securities and Exchange Commission. These filings are used to register a securities offering with the regulator when companies plan to go public.

If the SEC approves the Valkyrie Bitcoin Fund, Valkyrie will incorporate the CoinShares name into the ETF. The fund was filed for on June 21, by Valkyrie, BlackRock, and other financial firms.

CoinShares, which manages over $3.2 billion in assets, expressed optimism toward the U.S. cryptocurrency ETF market in September and noted that the economic powerhouse is not lagging on digital asset regulation.

The evolution of web 1.0 to 3.0 has led to a number of business opportunities and challenges for web 3.0. Learning web 3.0 development and digital marketing are key skills for those looking to capitalize on these opportunities and overcome the challenges posed by web 3.0. As the future of web 3.0 continues to evolve, it is important to stay up to date on the latest developments.

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