Key Takeaways
- Valkyrie Investments is planning to launch a $100 million DeFi hedge fund next week on Monday, Nov. 22.
- The fund will include investments tied to at least 24 assets on 13 blockchains including Ethereum and Solana.
- Unlike some other funds, Valkyrie will hold funds on-chain to take advantage of staking and yield farming.
Share this article
Valkyrie Investments is planning to offer a new hedge fund that is connected to the performance of various DeFi assets.
Fund Will Go Live Next Week
The investment vehicle will be available next week on Monday, Nov. 22 as the Valkyrie On-Chain DeFi Fund.
It will include investments in at least 24 cryptocurrencies on 13 different blockchains. Though a complete list has not been published, it will reportedly include assets from Ethereum, Solana, Avalanche, Binance Smart Chain, Matic, and Fantom.
The hedge fund will have $100 million of financial backing, sourced from Valkyrie’s investors and general partners.
Wes Cowan, Valkyrie’s Managing Director of DeFi, has stated elsewhere that Valkyrie will hold its assets on-chain. This will allow the company to take advantage of yield farming, staking rewards, and similar returns on investment. Gains from those activities will presumably be passed on to investors.
That decision will also set Valkyrie’s offering apart from Galaxy Digital’s competing DeFi fund, which holds cryptocurrency passively and does not take advantage of those DeFi features.
Valkyrie’s Other Accomplishments
For years, Valkyrie has been one of several companies pursuing a Bitcoin exchange-traded fund (ETF). Though a Bitcoin spot ETF has not yet been approved, Valkyrie became one of the first asset managers to launch a Bitcoin futures ETF this fall.
That fund, which went live alongside competing products from ProShares and VanEck, generated $80 million in trading volume during its first day of operation on Oct. 22.
Valkyrie then saw its application for a related product, a leveraged Bitcoin futures ETF, rejected by regulators days later.
The company also offers more traditional crypto trusts alongside its newer ETF. Trusts are available for several coins including Bitcoin, Polkadot, Dash, TRON, Zilliqa, and Algorand.
Disclaimer: At the time of writing this author owned less than $100 of Bitcoin, Ethereum, and altcoins.
This news was brought to you by ANKR, our preferred DeFi Partner.
Share this article
SEC May Deny Valkyrie’s Leveraged Bitcoin Futures ETF
The U.S. SEC has blocked Valkyrie Investments from creating a leveraged Bitcoin futures ETF, according to the Wall Street Journal. Leveraged ETF From Valkyrie Blocked According to the WSJ’s sources,…
How SocialGood Is Offering 100% Crypto Cashback on Online Shopping
In recent years, the rise of Bitcoin and tokenized assets has made the cashback vertical ripe for disruption. Within the cashback market, blockchain-based loyalty networks are rising in popularity among…
Valkyrie’s Bitcoin Futures ETF Is Now Live on Nasdaq
Valkyrie has launched its Bitcoin futures ETF, an investment fund that tracks the value of Bitcoin futures. Valkyrie ETF Is Live The fund went live on Friday, Oct. 22, under…
VanEck Bitcoin Futures ETF Will Debut on Cboe
The latest Bitcoin futures exchange-traded fund (ETF) from VanEck is set to go live on the Cboe BZX Exchange on Nov. 16. VanEck’s Bitcoin Futures ETF To Be Listed Tomorrow…