Main navigation

Avalanche (AVAX), Terra (LUNA) and Zilliqa (ZIL) Included in New Valkyrie Trust

Thu, 04/21/2022 - 16:30
article image
Alex Dovbnya
Valkyrie Investments has included a slew of proof-of-stake altcoins in its new multi-coin trust
Avalanche (AVAX), Terra (LUNA) and Zilliqa (ZIL) Included in New Valkyrie Trust
Cover image via
Read U.TODAY on
Google News

Alternative asset management firm Valkyrie Investments has announced the launch of a new exotic trust that includes Avalanche (AVAX), Binance (BNB), Terra (LUNA), Zilliqa (ZIL), Polygon (MATIC) and other Layer 1 cryptocurrencies.

CIO Steven McClurg says that the company's depth and breadth of cryptocurrency coverage make it possible to offer a product that tracks the value of a big basket of cryptocurrencies.

Unlike other investment products overseen by the company, the multi-coin fund is specifically focused on staking yields. Annual rewards are expected to reach roughly 6%.

London-based cryptocurrency custodian Copper Technologies will be responsible for safeguarding funds. 

Bank of England Urges Banks to Fund Bigger Scrutiny of Crypto
In February, the Nashville-based company topped $1 billion in assets under management, recording a 95% increase over the past 12 months.

It has already launched three Bitcoin-adjacent exchange-traded funds that are trading on the Nasdaq exchange.

In October, it listed the second futures-based Bitcoin ETF in the U.S. However, its proposal to launch an ETF that directly tracks the price of the largest cryptocurrency was rejected by the U.S. Securities and Exchange Commission (SEC) in December. The securities watchdog is yet to approve such a product.

In November, the crypto asset manager followed Mike Novogratz's Galaxy Digital by rolling out a decentralized fund (DeFi) fund that offers investors an opportunity to earn yield from lending, staking and farming.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at