Alternative asset management firm Valkyrie has raised $73.6 million in capital to fund two crypto-focused trusts, according to an amended filing with the U.S. Securities and Exchange Commission (SEC). did.
The new capital adds to Valkyrie’s $1.2 billion in assets under management (AUM) at the end of the second quarter.
Toronto Trust and Avalanche Trust
Valkyrie Tron Trust (VTRX) only invests in TRX, Tron’s native token. TRX provides exposure to staking options that are available to accredited investors and add 3.5% annual yield through staking.
The fund currently has a $50 million investment fund secured. SEC filing September 15, 2022.
Valkyrie Avalanche Trust (VAVAX) offers exposure to AVAX, Avalanche’s native token, with a 2% management fee and a $25,000 minimum investment. The trust has now raised nearly $24 million.
Both Trusts Support Traditional Accredited Investors Seeking Exposure to Cryptocurrencies, NFTs, Decentralized Finance (DeFi) Projects, Decentralized Applications (Dapps), and Other Products on the Tron and Avalanche Blockchains It is designed to
The two investment vehicles will join Valkyrie’s existing single-asset focused trusts for Bitcoin, Algorand, Polkadot, Dash, and Zilliqa.
Expansion into traditional finance and venture capital
Valkyrie is best known for being one of the first investment firms to manage three ETFs in the US. approval Other ETFs include Valkyrie Bitcoin Miners ETF and Valkyrie Balance Sheet Opportunities ETF.
According to Coindesk, the company announced in July 2022 that it would enter the venture capital arena with $30 million in funding to support early-stage Israeli startups.The company offers robust security and secure storage. launched a fund to help behind-the-scenes infrastructure companies streamline their crypto businesses.
