Valkyrie Launches New Crypto Trust for Avalanche (AVAX) Token

Crypto investment firm Valkyrie is launching a new trust dedicated to granting investors exposure to AVAX, the native token of the Avalanche network. The trust has already secured $25 million, according to sources familiar with the matter. Valkyrie Avalanche Trust for Accredited Investors According to an official announcement, the Valkyrie Avalanche Trust (VAVAX) invests solely in AVAX, the native token of the Avalanche network. Investors are required to make a minimum investment of $25,000, and face a management fee of upto 2%. .@ValkyrieFunds, one of the industry's leading digital asset investment managers, has announced the launch of the Valkyrie Avalanche Trust (VAVAX), to provide institutions with cost-efficient and secure access to $AVAX. https://t.co/ssEDx81lEf — Avalanche 🔺 (@avalancheavax) May 4, 2022 “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,” said Valkyrie Investments Chief Investment Officer Steven McClurg stated in the announcement release. This would be the sixth single-asset trust launched by Valkyrie, including Dash (DASH), Tron (TRX), Ziliqa (ZIL), and Polkadot (DOT). Launch of Its First Multi-coin Crypto Trust The launch of the Valkyrie Avalanche Trust (VAVAX) comes just weeks after the leading digita...