Valkyrie’s Bitcoin ETF awaiting approval raises $10 million

The digital asset manager Valkyrie Investments raised $10 million in a Series A round from a broad group of investors.

According to the press release, participants in the round include Tron founder Justin Sun, former baseball star C.J. Wilson, and companies Precept Capital Management, XBTO, 10X Capital and UTXO Management, as well as Litecoin founder Charlie Lee.

Valkyrie said it aims to provide clients with a broad range of investment products and services, from trusts and separately managed accounts to exchange-traded funds (ETFs), which are awaiting approval from the SEC.

The company in January 2021 filed with regulators an application to launch a Bitcoin ETF.

The capital raised will be used to hire additional staff and expand the product lineup. Valkyrie also plans to expand into Asian markets when conditions permit.

Earlier, the SEC extended the review period for the company’s application to launch a Bitcoin ETF to August 10, 2021.

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