Valkyrie collects $ 11 million to offer more crypto funds

Valkyrie collects $ 11 million to offer more crypto funds

The cryptofocussed asset manager Valkyrie Investments has raised around $ 11 million in the context of a strategic round, which will help the company hire more employees and expand their product range.

Although crypto companies such as Coinbase and Gemini have uncovered plans to slow down the attitude or to personnel cuts, Valkyrie continues to stop employees, said a spokesman.

"We actively hire both developers and sales and sales of [professionals] that we both need to cope with the considerable interest in our ETFs and protocol trusts, our hedge funds and our risk fund," said Steven McClurg, Chief Investment Officer from Valkyrie, to Blockworks.

bny Mellon, which added Valkyrie to his Accelerator-program Financing round participated. A spokesman for the company refused to comment on the investment.

Other investors were Coinbase Ventures, Wedbus Financial Services, Clearsky, Zilliqa Capital, C Squared Ventures, Belvedere Strategic Capital and Senahill Partners.

Valkyrie based in Nashville will also try to expand its offer after the new financing. According to ETF.com, the company has three ETFs traded in the USA with a managed total assets of around $ 30 million.

The Valkyrie Bitcoin Strategy ETF (BTF), which was the second ETF of the United States when it was introduced last October, which mainly invested in Bitcoin Futures Contracts, holds about 90 % of these managed assets. The company also has a balance sheet opportunities ETF (VBB) and a Bitcoin Miners ETF (WGMI) that Valkyrie launched in December and February.

Valkyrie is working on offering another Bitcoin Futures ETF-this one that was submitted under the Securities Act of 1933-and plans to register more crypto ETFs, McClurg stated. The company rejected it to inform details about potential future products.

"We have a few additional private means and [separately managed accounts] are before the market launch, and we also expand the proprietary technology that is needed for larger institutional customers, such as fund management and reporting," added McClurg.

Valkyrie made his first multi-coin trust for accredited investors in April and, after this introduction, offers its first avalanche-focused investment vehicle.

The SEC rejected the company's Spot-Bitcoin ETF proposals, but the company continues to work with the regulatory authority to invest such a fund.

"The race to get the first to get onto the market will be not for the faint of heart, and we will take this challenge," Leah Wald, CEO of Valkyrie, told Blockworks in March.

. .

The contribution Valkyrie collects $ 11 million in push to offer more crypto finds is not a financial advice.