CoinShares to Acquire Valkyrie Funds Following its Bitcoin ETF Approval

CoinShares International is acquiring Valkyrie Funds just days after the latter's Bitcoin ETF was approved by the SEC.

The US regulator approved eleven Bitcoin ETFs on Wednesday with a combined $4.6 billion worth of shares trading hands on Thursday.

Bitcoin ETFs Trigger $4.6B in Volume on First Day of Trading

Trading volumes could hit $50 billion to $100 billion this year following the SEC’s historic Bitcoin ETF approval

BlockheadBlockhead

On Friday, Coinshares announced it will acquire Valkyrie's approximately $110 million in assets under management including Valkyrie Bitcoin and Ether Strategy ETF, the Valkyrie Bitcoin Miners ETF, and the newly listed Valkyrie Bitcoin Fund.

CoinShares manages $4.5 billion in assets across crypto-focused ETFs.

Bitcoin ETFs Approved, What Next?

As the crypto market scratches its head about Bitcoin’s price following the SEC’s ETF approval, we delve into what happens next in the wonderful world of Web3

BlockheadBlockhead

James Butterfill, head of research at CoinShares, believes Bitcoin can hit $80,000 this year.

“This long-awaited development is poised to expand the investor base for cryptocurrencies and integrate them more closely with traditional financial markets,” Butterfill said, referring to Bitcoin ETFs.

“Estimations suggest that a 20% investment increase from current assets under management (around US$3 billion) could potentially propel Bitcoin prices to US$80,000.”

From $25K to $1M: Bitcoin’s Most Ridiculous 2024 Predictions

The start of a new year gives license to crypto aficionados to make their Bitcoin target bets, as ludicrous as they might be…

BlockheadBlockhead

Bitcoin slipped from $48,711 on Thursday to $42,232 at the time of writing.