Alternative investment firm Valkyrie has added $73.6 million in capital to two crypto-focused funds. Valkyrie initially had $1.2 billion in assets under management at the end of the second quarter. This information is contained in amended filings with the United States Securities and Exchange Commission (SEC).
Over the years, crypto investments and decentralized finance have proven to be an excellent alternative to the traditional financial system. This could be because DeFi has a way of boycotting 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 data in global financial transactions.
With DeFi, developers have created financial instruments that can manage digital assets without limits. Loan collateral and debt can be tokenized using decentralized finance.
Because blockchain technologies are transparent and accessible, many investors are now directing their finances into the crypto industry. As a result, traditional finance continues to enter the crypto industry, even with the bear market.
Valkyrie Tron Trust details
According to reports, the oldest fund was launched in 2021. Valkyrie Tron Trust offers qualified investors access to the TRX cryptocurrency. According to to SEC filingsthe trust raised $50 million from a small sum of $57 in a July 2021 sale.
Tron is a decentralized blockchain-based digital platform with its cryptocurrency known as TRX. It aims to host entertainment applications and allow content creators to sell their work directly to consumers.
Recently, Tron has been increasingly recognized in the crypto market. A spokesperson for Valkyrie noted that investors are noticing the continued growth in transactions recently seen by the Tron network.
Valkyrie Avalanche Trust increased exposure to AVAX
Meanwhile, the Valkyrie Avalanche Trust brings exposure to the AVAX token. The trust appeared in an SEC filing in January, but no sale was recorded. The trust has raised $24 million of the $25 million target Valkyrie outlined in May.
A Valkyrie spokesperson commented that Avalanche’s adoption rate is increasing significantly. He was referring to KKR’s deal with Securitize to tokenize a private equity fund on the Avalanche blockchain that was announced earlier this week.
Short description of Valkyrie
Valkyrie is an investment company based in Tennessee. The company offers funds based on eight protocols, three exchange-traded funds (ETFs), decentralized finance (DeFi) and protocol treasury management.
Valkyries XBTO Bitcoin Futures Fund was approved by the SEC in May. A cryptocurrency investment firm has announced plans to enter venture capital with a $30 million fund two months after approval.
The fund targets new start-up companies in Israel. Valkyrie’s customer base is mostly from the US, and that could help the Israeli teams.
Valkyrie also closed an $11 million strategic financing round in July. The largest traditional financial companies BNY Mellon and Wedbush support the fund.
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