Valkyrie Investments has launched an avalanche-centered trust fund that will invest in the blockchain’s native AVAX tokens.
The Valkyrie Avalanche Trust’s main objective is to track the value of Avalanche tokens and to give investors exposure in an insurable, cost-effective and secure way.
VAVAX is the sixth-single asset trust among similar funds by the firm comprising instruments with exposure to bitcoin, Polkadot, Dash, and Tron.
The CIO at Valkyrie Investments, Steven McClurg, welcomes the move by the company, saying that it will increase the number of investors building on Avalanche.
Valkyrie Multi-Coin Trust is another Trust by the company that invests in blockchain networks and various altcoins, including BNB, LUNA, AVAX, and MATIC.
Avalanche is a blockchain that went live in 2020 by Ava Labs, and has since risen to become the fourth-largest blockchain.
Source: THE BLOCK