The older of the two funds were launched last year, but current development indicates that traditional finance has continued to move into the crypto trade despite the bear market.
The Valkyrie Tron Trust, which gives accredited investors access to the TRX cryptocurrency, has raised just under $50 million, up from $57 in sales in July 2021. It first appeared in an SEC filing in January, offering exposure to the AVAX token, but the first sale had yet to take place. The trust has now raised nearly $24 million, falling just short of the $25 million that Valkyrie said it had set aside for the newly announced trust in May.
Valkyrie, based in Nashville, Tennessee, provides eight protocol-focused trusts, decentralized finance (DeFi) hedge fund, three Nasdaq-listed exchange-traded funds (ETFs), and protocol treasury management services.
The SEC approved Valkyrie’s XBTO Bitcoin Futures Fund in May. Two months later, the firm announced its entry into venture capital with a $30 million fund focused on early-stage Israeli startups.
Valkyrie closed an $11 million strategic funding round in July, with BNY Mellon and Wedbush participating. According to the agency, the funding was motivated more by strategic partnerships than by capital.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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