Alternative asset management company Valkyrie Investments has announced a series of new altcoin announced that it has established a new fund to follow.
Valkyrie Introduces New Cryptocurrency Fund Consisting of Multiple Altcoins
In the fund established by the company Avalanche (AVAX), Binance Coin (BNB), Terra (LUNA), Zilliqa (ZIL), Polygon (MATIC) and the other layer 1 cryptocurrencies it will include.
The company’s CIO, Steven McClurg, said in a statement that it is possible to offer a product that tracks the value of a large altcoin basket, thanks to the large and deep pool of cryptocurrencies the company offers.
Unlike Valkyrie’s other investment products, this latest multi-coin fund will focus specifically on staking returns. The fund’s annual rate of return is expected to be 6%.
London-based cryptocurrency storage service provider Copper Technologies will be responsible for securing the altcoin fund.
The Amount of Assets Valkyrie Manages Increasingly
It was announced in February that the amount of assets managed by Valkyrie, a US company, exceeded $ 1 billion. This means a 95% growth for the company in the last 12 months.
In October, the company listed its second futures-based Bitcoin ETF in the US. However, his application for ETFs that directly track the price of the world’s largest cryptocurrency was rejected by the SEC in December.
It is known that the US authority is not yet ready to approve such a product.
In November, Valkyrie followed in the footsteps of Mike Novogratz’s Galaxy Digital company, offering investors a decentralized finance (DeFi) fund, enabling investors to generate returns through activities such as lending, staking and farming.
*Not investment advice.