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Valkyrie launches a new crypto trust on Avalanche (AVAX)

The Valkyrie Avalanche Trust is intended only for accredited investors.

Digital asset investment manager Valkyrie has officially launched a new crypto fund trust indexed to the Avalanche cryptocurrency (AVAX).

The new trust, the Valkyrie Avalanche Trust (VAVAX), will offer institutional investors the opportunity to invest in Avalanche’s native AVAX token.

The trust offers exposure to Avalanche in the context of increased interest by institutions in decentralized finance (DeFi), non-fungible tokens (NFTs) and other crypto projects.

Currently, Avalanche is one of the main platforms for these projects. Accredited investors now have the opportunity to access the ecosystem through a secure trust fund.

« Today we are proud to announce the Valkyrie Avalanche Trust (VAVAX). Avalanche quickly climbed the ranking of digital assets to play an important role in #DeFi. VAVAX provides secure access to Avalanche’s native currency, $AVAX, in the ease of a trusted vehicle », said Valkyrie in an announcement Wednesday.

The launch of the Valkyrie Avalanche Trust (VAVAX) comes just a few weeks after the investment manager announced the Valkyrie Multi-Coin Trust. The trust also held AVAX, with the other assets being Binance’s BNB, Polygon (MATIC) and Terra (LUNA).

Valkyrie proposed also single-asset trusts for Bitcoin (BTC), Dash (DASH), Tron (TRX), Ziliqa (ZIL) and Polkadot (DOT).

AVAX was trading around $61.25 at the time of writing, up 2.3% in the last 24 hours. The slight gains for the cryptocurrency come amid broader weakness in the crypto markets, with AVAX/USD down more than 10% over the past week.

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