Valkyrie Investments, which manages billions of investments, launched the first multi-coin trust to enable different ways to buy protocols and benefit investors from stake returns. The Trust currently invests in eight altcoins, including Avalance (AVAX), Binance Coin (BNB), and Cosmos (ATOM).
Valkyrie launched fund of 8 altcoins including AVAX, MATIC and BNB
Actively managed Valkyrie Multi-Coin Trust (VMCT) Blockchain which the firm believes is well positioned to expand its market share focused on investing in their networks and tokens. The fund is for accredited investors only and has a minimum investment limit of $100,000.
Valkyrie Chief Investment Officer Steven McClurg says the fund, which carries a 2.5% management fee, was launched after discussions with potential investors seeking a product that represents the firm’s ‘highest credible games’ in the space. Steven McClurg explains:
We launched this fund now because we believe the industry is at a crossroads where family offices, high net worth individuals and others are eager to enter the space and are seeking opportunities that go beyond just buying and holding a single asset. .
VMCT, currently 10% of fund capital Avalanche (AVAX), Binance Coin (BNB), Cosmos (ATOM), Helium (HNT), Terra (LUNA) , allocates 30% to the Gemini USD (GUSD) stablecoin, in addition to Polygon (MATIC) and Zilliqa (ZIL). VMCT states that investments may change over time as crypto markets evolve.
“We believe these altcoins have a bright, bullish future”
Steven McClurg, stating that the firm believes in the founding teams of the protocols and the projects built on them, said, “All of these altcoins have a bright, bullish future. “We believe it has more power and should see greater adoption and participation in the years to come.”
Steven McClurg states that this focus on cryptocurrencies also allows the company to return stock returns to investors, citing the inflation rewards earned for participating in a network’s Proof of Stake (PoS) consensus.
Nashville-based Valkyrie had $1 billion in assets under management in February. As we covered in the cryptokoin.com news, the company currently offers six single-asset trusts focused on Bitcoin, Algorand, Polkadot, Dash, TRON and Zilliqa.
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