Valkyrie Investments launched a trust based on the Avalanche blockchain – Bits Media

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Valkyrie Investments запустила траст на базе блокчейна Avalanche - Bits Media

Crypto asset manager Valkyrie Investments announced the launch of a new product for accredited investors with a focus on the Avalanche network's native token.

About the launch of the Avalanche Trust project (VAVAX) Valkyrie tweeted. According to sources, familiar with question, the trust has already attracted $25 million. Avalanche Trust has become one of the few dedicated AVAX funds, aimed at accredited investors.

Запуск Avalanche Trust произошел через две недели после того, как Valkyrie учредила «Мульти-монетный траст» (Multi-Coin Trust), whose funds are invested in an AVAX-inclusive basket of base-level tokens with a monthly repayment schedule.

"Launching a new trust, we can provide qualified investors with access to the protocol, which they always ask about. Since DeFi projects, NFT platforms and many other projects are increasingly starting to be built on the Avalanche blockchain.”, — explained in Valkyrie Investments.

According to the message, Avalanche Trust requires a minimum investment threshold of $25 000 with size management fee 2%, as well as daily redemption of shares.

Copper Technologies will act as custodian of the trust funds., Cohen & Company will be responsible for audit and taxation, a Chapman + Cutler LLP will provide legal advice.

Purchase of other assets, in addition to the native token of the Avalanche network, not included in VAVAX.

At the end of April, the president of AvaLabs, developer of the Avalanche blockchain, John Woo (John Wu) spoke about plans to launch his own wallet and his vision of it, how is it supposed to work. In a recent Decrypt podcast, John Woo said, that the Avalanche team plans to develop a wallet, which will be easy to use and suitable for people, completely ignorant of cryptocurrencies.