CoinShares Valkyrie Bitcoin Fund Renames, Names New CIO

TL;DR

Valkyrie Bitcoin Fund is now CoinShares Valkyrie Bitcoin Fund; new CIO appointed.

AI Summary

On June 14, 2024, CoinShares Valkyrie Bitcoin Fund filed an 8-K to report a change in its corporate name from Valkyrie Bitcoin Fund to CoinShares Valkyrie Bitcoin Fund, effective June 12, 2024. This filing also disclosed the departure of a director, Ms. Hannah Rosenberg, and the appointment of Mr. Steven McClurg as Chief Investment Officer. The fund is incorporated in Delaware.

Why It Matters

The name change reflects a rebranding or integration, while the appointment of a new Chief Investment Officer is a key leadership change that could influence the fund's investment strategy.

Risk Assessment

Risk Level: low — The filing primarily concerns administrative changes like a name change and executive appointments, which typically carry low immediate risk.

Key Players & Entities

• CoinShares Valkyrie Bitcoin Fund (company) — Registrant
• Valkyrie Bitcoin Fund (company) — Former Company Name
• June 14, 2024 (date) — Report Date
• June 12, 2024 (date) — Effective Date of Name Change
• Hannah Rosenberg (person) — Departing Director
• Steven McClurg (person) — Appointed Chief Investment Officer
• Delaware (jurisdiction) — State of Incorporation

FAQ

Filing Documents

• brrr-8k_061424.htm (8-K) — 35KB
• ex3-2.htm (EX-3.2) — 5KB
• ex4-4.htm (EX-4.4) — 16KB
• 0001999371-24-007464.txt ( ) — 237KB
• brrr-20240614.xsd (EX-101.SCH) — 3KB
• brrr-20240614_lab.xml (EX-101.LAB) — 33KB
• brrr-20240614_pre.xml (EX-101.PRE) — 22KB
• brrr-8k_061424_htm.xml (XML) — 4KB

02 Departure of Directors or Certain Officers; Election of Directors;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Departure of Leah Wald and Steven McClurg In connection with Valkyrie Digital Assets LLC's (the "Former Sponsor") withdrawal as sponsor of the Trust, and the appointment of CoinShares Co. (the "Sponsor") as the sole successor sponsor of the Trust, effective June 14, 2024, Leah Wald ceased serving as chief executive officer (principal executive officer) of the Sponsor and Steven McClurg ceased serving as chief investment officer (principal accounting officer and principal financial officer) of the Former Sponsor. Appointment of Jared Demark and Charles Butler In connection with the Former Sponsor's withdrawal as sponsor of the Trust, and the appointment of the Sponsor as the sole successor sponsor of the Trust, effective June 14, 2024, Jared Demark will serve as principal executive officer of the Sponsor and Charles Butler will serve as principal financial officer and principal accounting officer of the Sponsor. Jared Demark, Principal Executive Officer Jared has nearly 30 years of experience in the financial services industry. Prior to his tenure at CoinShares, he spent over 20 years at Lehman Brothers and Barclays as a Managing Director in Institutional Equities Sales covering some of the largest asset managers in the United States. Jared holds a bachelor's degree in Economics from Vanderbilt University. Charles Butler, Principal Financial Officer and Principal Accounting Officer Charles Butler trained with PricewaterhouseCoopers and is a fellow of the Institute of Chartered Accountants in England and Wales with more than 20 years of financial services experience. Charles's experience covers audit, accountancy, funds, trusts, and private wealth predominantly in the offshore financial services industry. Prior to joining CoinShares in September 2017, Charles was a Senior Debt Fund Manager at BNP Pari

03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. In connection with the Former Sponsor's withdrawal as sponsor of the Trust, and the appointment of the Sponsor as the sole successor sponsor of the Trust, on June 14, 2024 the Sponsor caused a Certificate of Amendment to the Trust's Certificate of Trust to be filed with the Secretary of State of the State of Delaware in order to change the name of the Trust to "CoinShares Valkyrie Bitcoin Fund". In addition, on June 14, 2024 the Sponsor and CSC Delaware Trust Company, the Trustee of the Trust, entered into a Second Amendment (the "Amendment") to the First Amended and Restated Trust Agreement of the Trust dated December 28, 2023 (the "Trust Agreement"). The Amendment made conforming changes to the Trust Agreement to reflect the appointment of CoinShares Co. to the role of Sponsor to the Trust.

01 Other Events

Item 8.01 Other Events As of June 14, 2024, Valkyrie Digital Assets LLC has withdrawn as co-Sponsor to the Trust and CoinShares Co. has become the sole Sponsor. Further information can be found in the Trust's Prospectus dated January 10, 2024, as amended February 1, 2024 and June 14, 2024, as filed with the Securities and Exchange Commission. About CoinShares CoinShares Co., a Delaware corporation, is a wholly-owned subsidiary of CoinShares International Limited ("CoinShares"). CoinShares is a leading European investment company specializing in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the U.K. and the U.S. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorit des marchs financiers, in the U.S. by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits 3.2 Certificate of Amendment to the Certificate of Trust 4.4 Second Amendment to the Amended and Restated Trust Agreement

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: June 14, 2024 CoinShares Valkyrie Bitcoin Fund CoinShares Co., as Sponsor of the CoinShares Valkyrie Bitcoin Fund By: /s/ Jared Demark Name: Jared Demark Title: Principal Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR