Two crypto-focused trusts owned by digital asset manager Valkyrie have raised $73.6 million.
One cryptocurrency trust, the Valkyrie Tron Trust, launched last year to offer accredited investors access to the TRX cryptocurrency.
According to an amended filing with the SEC, the fund has secured a $50 million investment fund from investors.
Another cryptocurrency trust is a new trust launched in May, Valkyrie Avalanche Trust, dedicated to providing investors with separate exposure to the Avalanche (AVAX) blockchain and the underlying cryptocurrency.
The report shows the trust has now raised nearly $24 million, slightly less than the $25 million Valkyrie said in May had raised for the then-newly announced trust.
Valkyrie spokesperson comments on the two cryptocurrencies trust fund that:
“Tron has gained significant traction because the Tron network continues to see continued transaction growth, including for stablecoins, and investors familiar with the Asia-Pacific region have started taking notice. Avalanche is also seeing increased adoption at a substantial rate, including earlier this week when KKR announced a deal with Securitize to tokenize a piece of a private equity fund on the Avalanche blockchain.”
Valkyrie Digital Assets was one of the first asset managers to launch a Bitcoin futures ETF in the U.S. with a very robust underlying trust portfolio.
These include, but are not limited to, the Valkyrie Bitcoin Trust, the Valkyrie Algorand Trust, the Valkyrie Polkadot Trust, the Valkyrie Dash Trust, and the Valkyrie TRON Trust. In addition to launching these funds based on the innovation embodied in cryptocurrencies and their underlying blockchains, they also float based on popular demand.
Valkyrie is knowns as an experienced Index manager whose Bitcoin futures ETF was approved by the U.S. Securities and Exchange Commission (SEC) last year.
In July, crypto asset manager Valkyrie launched a new financial investment product. The Tennessee-based company has announced that it is entering the venture capital arena with plans to raise a $30 million fund by investing in early-stage startups in Israel.
Image source: Shutterstock
Source: https://blockchain.news/news/valkyries-two-crypto-focused-trusts-raise-73.6m