Valkyrie Launches Avalanche Trust for TradFi Exposure to AVAX Token
Crypto investment firm Valkyrie said Wednesday it is launching an Avalanche Trust (VAVAX) for traditional investors looking to gain exposure to the Avalanche ecosystem. According to sources familiar with the matter, the trust has already secured $25 million.
The Avalanche Trust launch comes two weeks after Valkyrie established a “Multi-Coin Trust” that invested in a basket of base-layer tokens including AVAX. This new fund is one of the only AVAX-specific funds targeting accredited investors.Avalanche is a proof-of-stake blockchain and competitor to Ethereum in decentralized finance, or DeFi. Its native fees token was trading near $60 Tuesday, well off all-time highs above $130 set last November.
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