- Valkyrie Investments has included a number of Proof-of-Stake altcoins in its new multi-coin trust.
Alternative asset management firm Valkyrie Investments Avalanche (AVAX), Binance (BNB), Terra (Luna), Zilliqa (ZIL), Polygon (MATIC), Cosmos (ATOM), Helium (HNT) Layer-1 cryptocurrencies such as Gemini USD (GUSD) announced the launch of its new trust fund featuring its stablecoin.
The company, which manages billions of dollars in investments, has launched the first multi-coin trust aimed at providing investors exposure to a variety of protocols while earning returns on stakes.
Valkyrie Multi-Coin Trust is reportedly an actively managed fund that invests in blockchain networks and currencies that the firm considers well positioned to grow their market share. The fund will only be open to accredited investors and a minimum investment of $100,000 can be made.
Commenting on the matter, CIO Steven McClurg said the company’s depth and breadth of cryptocurrency coverage; He said it makes it possible to offer a product that monitors the value of a large basket of cryptocurrencies. McClurg also said that the firm; Noting that he believes in the founding teams of these protocols and the projects built on them, he adds:
“We believe these protocols all have a bright, bullish future and should see greater adoption and participation in the coming years.”
Unlike other investment products overseen by the company, the multi-coin fund will be one that focuses specifically on returns. Annual return awards are expected to reach around 6 percent. Copper Technologies, a London-based crypto custodian, will be responsible for securing the funds.
The Nashville-based company had more than $1 billion in assets under management in February, an increase of 95% over the past 12 months.
Alongside these, the crypto asset manager followed Mike Novogratz’s Galaxy Digital in November by offering a decentralized fund (DeFi) fund that offers investors the opportunity to lend, stake and earn returns from yielding.
Alongside the Multi-coin Trust, the company is currently bitcoin (BTC), Algorand (ALGO), polkadot (DOT), dash, Tron It offers six single-entity trusts focused on (TRX) and Zilliqa (ZIL).
McClurg said Valkyrie has many more ETFs and Trusts it’s working on, but declined to share details. The company is also one of the issuers looking to launch a spot Bitcoin ETF that the SEC has yet to approve.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.