- Justin Sun is among the youngest crypto developers and enthusiasts.
- Justin Sun is the Ambassador and Permanent Representative of Grenada to the WTO.
Justin Sun is among one of the richest persons in the crypto industry and it is believed that Sun holds a massive amount of Bitcoin stored in one place U.S-based Valkyrie Investment.
In August, Valkyrie, a crypto asset manager held more than $580 million in BTC belonging to Justin Sun, according to private financial documents by a crypto news outlet. The total amount is over 90% of the total amount held in Valkyrie’s largest division as per the financial documents.
Valkyrie Investment is among one of the biggest money managers. It pitches crypto products to Wall Street investors and is heavily reliant on Justin Sun. Sun claims he is one of the biggest shareholders of Valkyrie.
$BTT $WIN $JST $SUN and $NFT Trusts coming soon, hopefully from Valkyrie in the US.
Also will provide ETN's for those Euro people.
— CryptoWinds (@CryptoWinds1) October 28, 2021
Valkyrie created investment products for “Justin Tokens” such as Tron’s TRX and BitTorrent BTT, which other crypto asset managers say they avoid. They also promoted Tron using its own marketing materials from developers of the blockchain network.
The Chief Investment Officer Steve McClurg will not disclose any client information because these things should be kept confidential.
Valkyrie Funds is a prominent financial services firm. It is a major cryptocurrency fund manager in the United States crypto ETFs. Valkyrie manages funds including BTF and the Valkyrie Bitcoin Miners ETF (WGMI).
Valkyrie is only the second company whose bitcoin ETFs were approved under the SEC act of 1934. The other company is Teucrium. Valkyrie and Teucrim also filed the Securities Act of 33. Valkyrie’s ETF product was named as the Valkyrie Bitcoin Strategy ETF (BTF).
It was decided back in February of 2022, Bitcoin ETFs 80% of its total net assets will be invested in the securities of U.S. operating companies that have innovative balance sheets, Vident Investment Advisory,etc.
Tron’s (TRX) Justin Sun, tweeted on December 12, 2022: “Deploying more capital-steady lads.” It is similar to the tweets posted by the fugitive Terraform Labs CEO Do Kwon before the Luna Terra crash this May.
Source: https://www.thecoinrepublic.com/2022/12/23/justin-sun-top-client-of-valkyrie-crypto-asset-manager-report/