Valkyrie launches Avalanche-based trust

Valkyrie Investments, the asset management company, announced the launch of a trust for accredited investors focused on the network’s native token, Avalanche.

.@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

Purchases of other assets within the Valkyrie Avalanche Trust (VAVAX) are not planned.

The custodian of the product is Copper Technologies.

The management fee will be 2% of AUM. Investments in the trust are possible from $25,000.

Earlier, Valkyrie Investments launched products based on Bitcoin, Polkadot, Dash, Tron, and Zilliqa, as well as on a basket of assets (Bitcoin, Ethereum, Avalanche, Binance Coin, Terra, Polygon and others).

In April, Ava Labs, the startup behind Avalanche, opened a $350 million funding round at a valuation of $5.25 billion.

John Wu, head of Ava Labs, previously declined to name Avalanche a competitor to Ethereum.

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