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Valkyrie brings its first multi-coin trust
Valkyrie CIO says industry is at a 'tipping point' where family offices and high net worth individuals are looking for multi-asset exposure Trust currently invests in eight assets including AVAX, BNB and ATOM Valkyrie Investments has its first multi-coin trust as the product is designed to provide diversified exposure to protocols and pass on returns from staking to investors. The actively managed Valkyrie Multi-Coin Trust focuses on investing in blockchain networks and tokens, which the company believes are well positioned to expand market share. It is only for accredited investors and has a minimum investment…
Valkyrie brings its first multi-coin trust
- Laut CIO von Valkyrie befindet sich die Branche an einem „Wendepunkt“, an dem Family Offices und vermögende Privatpersonen nach Multi-Asset-Engagement suchen
- Trust investiert derzeit in acht Vermögenswerte, darunter AVAX, BNB und ATOM
Valkyrie Investments has its first multi-coin trust as the product is designed to provide diversified exposure to protocols and pass on returns from staking to investors.
Which is actively managed Valkyrie Multi-Coin Trust focuses on investing in blockchain networks and tokens, which the company believes are well positioned to expand market share. It is only for accredited investors and has a minimum investment of $100,000.
The trust, which carries a 2.5% management fee, was launched after discussions with potential investors looking for a product that represented the company's "highest convictions" in the area, said Steven McClurg, Valkyrie's chief investment officer.
“We have launched this fund now because we believe the industry is at an inflection point where family offices, high net worth individuals and others are interested in entering the space and are looking for opportunities beyond buying and holding a single asset,” he told Blockworks.
The trust currently allocates 10% of the fund's capital each to Avalanche (AVAX), Binance (BNB), Cosmos (ATOM), Helium (HNT), Terra (LUNA), Polygon (MATIC) and Zilliqa (ZIL), plus a 30% allocation to the stablecoin Gemini USD (GUSD). Investments may change over time as crypto markets develop.
“We believe these protocols all have bright, optimistic futures and should see increased adoption and engagement in the coming years,” McClurg added, noting that the company believes in the protocols’ founding teams and the projects built on them.
Focusing on these coins also allows the company to return staking yield to investors, he said, referring to the inflation rewards earned for participating in a network's proof-of-stake consensus. The trust targets an annual return of four to six percent and the fund's custodian is Copper Technologies.
Nashville-based Valkyrie reached $1 billion in assets under management in February. The company currently offers six single-asset trusts focused on Bitcoin, Algorand, Polkadot, Dash, TRON and Zilliqa.
The company also has three ETFs that trade in the US, including a Bitcoin miners ETF and a Bitcoin strategy fund that invests in futures contracts.
McClurg said Valkyrie has additional ETFs and trusts in the works, but declined to provide details. The company is one of a few issuers looking to launch a spot Bitcoin ETF that the SEC has not yet approved.
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The post Valkyrie launches its first multi-coin trust is not financial advice.