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Aligned Layer: Transforming ZK Proofs for Ethereum

Aligned Layer: A New Dawn for Zero-Knowledge Proofs on Ethereum In the ever-evolving landscape of blockchain technology, Aligned Layer emerges as a pivotal player by securing a substantial $2.6 million seed round. This decentralized Zero-Knowledge (ZK) proof verification layer for Ethereum, powered by Eigen Layer, promises to redefine the infrastructure for proof verification, making it more accessible and efficient for developers. With major backing from investors such as Lemniscap, Bankless Ventures, and StarkWare, Aligned Layer is poised to significantly enhance Ethereum’s capabilities. Funding and Future Plans The recent funding round will primarily focus on: Team Expansion : Bringing in more expertise to accelerate development. Mainnet Launch : Targeting Q2 2024 for the release, which is crucial for the ecosystem. Why Aligned Layer Matters As a new infrastructure layer, Aligned Layer offers affordable Zero-Knowledge Proof verification, which is essential for the sca...
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Produced by Daniel Aharonoff & Mogul Media AI

CoinShares Acquires Valkyrie Funds: Expanding Reach into U.S. Market

CoinShares, the European asset manager, recently announced its decision to exercise its option to acquire Valkyrie Funds, the U.S.-based ETF business of Valkyrie Investments. This move comes on the heels of Valkyrie's launch of a spot Bitcoin ETF, the Valkyrie Bitcoin Fund, which trades on Nasdaq under the BRRR ticker. The acquisition includes the newly approved BRRR ETF, along with the Valkyrie Bitcoin and Ether Strategy ETF (BTF) and the Valkyrie Bitcoin Miners ETF (WGMI). As CoinShares expands its reach into the U.S. market, here are some key points to consider:

CoinShares' Acquisition of Valkyrie Funds:

  • CoinShares, based on the island of Jersey, has $4.5 billion in assets under management and is a leading European investment company specializing in digital assets.
  • With the acquisition of Valkyrie Funds, CoinShares will bring $110 million worth of assets under its control, including the BRRR Bitcoin ETF and other Valkyrie offerings.
  • CEO Jean Marie Mognetti expressed confidence in the acquisition, highlighting the company's aim to provide regulated digital asset products to American investors.

Market Performance Insights:

  • On its first day of trading, the BRRR Bitcoin ETF closed at $13.29, experiencing a slight decline of 1.8%.
  • Despite the promising launch, the trading volume of BRRR on the debut day was around $9 million, representing approximately 0.2% of the total volume of all 10 spot Bitcoin ETFs.
  • Major trading activities were observed on BlackRock's IBIT, Fidelity's FBTC, and Grayscale's GBTC, indicating strong competition in the market.

CoinShares' strategic move to acquire Valkyrie Funds reflects its commitment to expanding its presence in the U.S. market and offering American investors access to diverse digital asset products. As the company navigates the competitive landscape of Bitcoin ETFs, it will be interesting to see how CoinShares leverages its expertise to establish a strong foothold in the U.S. market alongside established players.

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