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Jafrin Ahmed
May 5, 2022
by Jafrin Ahmed

Valkyrie Launches New Crypto Trust for Avalanche (AVAX) Token

Valkyrie AVAX Avalanche

Table of contents

  1. Launch of Its First Multi-coin Crypto Trust
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%.

“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 digital asset manager launched its Multi-Coin Trust. The trust also holds AVAX, along with Binance’s BNB, Polygon (MATIC) and Terra (LUNA).

Avalanche (AVAX) is currently the 11th largest cryptocurrency by market capitalization and is the fourth largest proof-of-stake blockchain by total value locked (TVL), according to data from CoinGecko and DefiLlama.

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Valkyrie Launches New Crypto Trust for Avalanche (AVAX) Token
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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