Valkyrie Launches its First Multi-coin Trust – Blockworks

  • Industry at an “inflection point” where family offices and high-net-worth individuals are seeking multi-asset exposure, Valkyrie CIO says
  • Trust currently invests in eight assets, including AVAX, BNB and ATOM

Valkyrie Investments has launched its first multi-coin hope, as the product was designed to offer diversify exposure to protocols and run along staking yields to investors .
The actively managed Valkyrie Multi-Coin Trust is focused on investing in blockchain networks and tokens that the firm believes are well-positioned to expand market share. It is for accredit investors only and has a minimal investment of $ 100,000 .
The trust, which carries a management fee of 2.5 %, was launched after discussions with potential investors looking for a product that represented the tauten ’ s “ highest-conviction plays ” in the space, said Valkyrie Chief Investment Officer Steven McClurg .

“We launched this fund now because we believe the industry is at an inflection point where family offices, high-net-worth individuals and others are keen to enter the space and are looking for opportunities that go beyond just buying and holding a single asset,” he told Blockworks.

The confidence presently allocates 10 % of the fund ’ s capital to each of Avalanche ( AVAX ), Binance ( BNB ), Cosmos ( ATOM ), Helium ( HNT ), Terra ( LUNA ), Polygon ( MATIC ), and Zilliqa ( ZIL ), plus a 30 % allocation to the Gemini USD ( GUSD ) stablecoin. The investments can change over time as crypto markets evolve .
“ We believe that these protocols all have a brilliantly, bullish future, and should see increase adoption and battle in the coming years, ” McClurg added, noting that the firm believes in the protocols ’ founding teams and the projects being built on them .
Focusing on these coins besides enables the firm to return staking render to investors, he said, referring to the ostentation rewards earned for participating in a network ’ mho proof-of-stake consensus. The trust seeks to target an annual yield of four to six percentage, and the fund ’ randomness custodian is Copper Technologies .
Based in Nashville, Valkyrie reached $ 1 billion in assets under management in February. The caller presently offers six single-asset trusts focused on bitcoin, algorand, polkadot, dash, TRON and Zilliqa.

The firm besides has three ETFs trade in the US, including a bitcoin miners ETFs and a bitcoin scheme fund that invests in futures contracts .
McClurg said Valkyrie has more ETFs and trusts in the works, but declined to parcel specifics. The company is one of a handful of issuers seeking to launch a blot bitcoin ETF, which the SEC has not yet approved .
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  • Ben Strack

    Ben Strack is a Denver-based reporter covering macro and crypto-native funds, fiscal advisors, structured products, and the integration of digital assets and decentralized finance ( DeFi ) into traditional finance. Prior to joining Blockworks, he covered the asset management industry for Fund Intelligence and was a reporter and editor for respective local newspapers on Long Island. He graduated from the University of Maryland with a degree in journalism. Contact Ben via e-mail at [ electronic mail protected ]

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