Issuer Valkyrie Investments has launched its second trust of 2022, an Avalanche-focused trust to join its family of crypto funds.
Issuer Valkyrie Investments has launched an Avalanche-focused trust to join its family of crypto funds.
The Valkyrie Avalanche Trust launches today. The trust invests solely in AVAX, the native token of the Avalanche network. "The primary investment objective of the Trust is to reflect the value of Avalanche held within and to offer investors access and exposure to the digital asset in an insurable, cost-effective manner," the firm said in its announcement.
It is the sixth single-asset trust, which includes vehicles with exposure to bitcoin, polkadot, dash, tron and zilliqa. The Avalanche blockchain launched in September of 2020 by Ava Labs and is the fourth-largest blockchain, with Ava Labs is reportedlyThis is the second trust Valkyrie has launched in 2022, and the first also held AVAX.
“AVAX is growing rapidly in terms of adoption, largely as a result of its blazing fast transaction speeds,” said Valkyrie Investments CIO Steven McClurg in the announcement. “By launching this trust, we are able to give qualified investors exposure to a protocol that they have been increasingly asking about as DeFi projects, NFT platforms, and many other projects have increasingly begun to build on the Avalanche blockchain.
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