Alternative investment firm Valkyrie has raised $73.6 million in capital to two crypto-focused trust funds. Valkyrie originally had $1.2 billion in assets under management at the end of the second quarter. This information is based on revised filings with the United States Securities and Exchange Commission (SEC).
Over the years, crypto investments and decentralized finance have proven to be a great alternative to the traditional financial system. Maybe it’s because Daffy has a way of defying the bureaucracy in the financial system.
Decentralized finance (DeFi) allows the use of digital ledger technologies. Digital technology enables investors to access and control their assets and financial information in global financial transactions.
With DeFi, developers have created financial tools that can move digital assets without limits. Bonds and debt obligations can all be tokenized with decentralized finance.
Now that blockchain technologies are transparent and accessible, many investors are pouring their money into the crypto industry. As a result, traditional finance will continue to enter the crypto industry even with bear markets.
Details of Valkyrie Tron Trust
According to reports, the oldest fund was launched in 2021. The Valkyrie Tron Trust offers qualified investors access to the TRX cryptocurrency. According to SEC filings, the trust raised $50 million from a $57 million sale in July 2021.
Tron is a decentralized digital platform based on the blockchain and their cryptocurrency is known as TRX. It aims to host entertainment applications and enable content creators to sell their work directly to consumers.
Tron has been gaining recognition in the crypto market recently. A Valkyrie spokesperson noted that investors are taking note of Tron Network’s recent continued trading growth.
Valkyrie Avalanche Trust AVAX has increased exposure.
Meanwhile, Valkyrie Avalanche Trust is bringing exposure to the AVAX token. The trust appeared in an SEC filing in January, but no sale was recorded. The trust raised $24 million of the $25 million target set by Valkyrie in May.
A Valkyrie spokesperson commented that Avalanche’s adoption rate is increasing significantly. He cited KKR’s deal with Securities to mimic the private equity fund in Avalanche, which was announced earlier this week.
A brief description of Valkyrie
Valkyrie is a Tennessee-based investment firm. The company offers trust funds based on eight protocols, three Nasdaq-listed exchange-traded funds (ETFs), decentralized finance (DeFi) and protocol treasury business management.
The SEC approved Valkyries’ XBTO Bitcoin Futures fund in May. The crypto investment company announced plans to enter venture capital with a $30 million fund two months after its approval.
The fund’s targets are new start-up companies in Israel. Valkyrie’s customer base is primarily from the US, and this could help the Israeli teams.
Valkyrie closed an $11 million strategic financing deal in July. Top cultural finance firms BNY Mellon and Wedbush are backing the fund.
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