A cryptocurrency asset manager Valkyrie Investments has recently raised $10 million (~£7.25 million) in a Series A funding round, proving investors remain particularly interested in crypto assets.
Following the fundraiser, the Nashville-based company is planning to further develop the company by expanding its team and entering the Asian market. The funding round gathered such prominent figures in the crypto world as Justin Sun, founder of Tron, and Charlie Lee, founder of Litecoin. “Leah and Steven have a great vision for how they want to bring investment opportunities to market, and I couldn’t be happier to support them on this journey,” said Charlie Lee. In addition to these investors, former Major League pitcher CJ Wilson also took part in the funding round.
Valkyrie currently offers managed products including Bitcoin, Polkadot (DOT) or Algorand (ALGO). At this point, the company aims to benefit from APY from staking DOT and ALGO, which yield 8% and 6% respectively. Leah Wald’s company was also planning to list a Bitcoin exchange traded fund (ETF). The application with the SEC was filed in January. However, the SEC has postponed its decision twice. Its final decision is expected on 10th August. If it is accepted, it will be the first ETF application to ever get the green light in the US. Currently, eight applications are being reviewed by the US regulator.
The new fundraiser shows that while BTC has been experiencing a downward trend since May, the number of investors to enter the game continues to grow. Valkyrie CEO and World Bank veteran Leah Wald said they are convinced that cryptos are changing the way people see, use and invest their money. “Our goal, as a firm, is to help bring more access to the opportunities they provide to a wider audience of people, and to do so in a managed, research-driven manner that ultimately provides best-in-class products to all kinds of investors,” Leah Wald said.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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