Valkyrie Investments launched trust based on the AVAX token
The fund provides investors with access to the native token of the Avalanche network
05.05.2022 - 10:40
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What’s new? Valkyrie Investments, an asset management company, has announced the launch of the Valkyrie Avalanche Trust (VAVAX). The trust is based on the Avalanche blockchain to provide accredited investors with secure access to the native token AVAX.
What else is known about the trust? The minimum investment in a new trust is $25 000 and VAVAX also charges a 2% asset management fee to investors. Copper Technologies acts as the custodian. According to CoinDesk, the trust has already attracted investments of $25 million.
What is trust? It is a contract in which the founders of a trust company transfer ownership of assets to it. By receiving assets under management, such a company is obliged to transfer the income to its founders.
How is it different from a fund? A fund is a legal entity that retains ownership of assets that are managed by the board.
What events happened earlier? In April 2022, Ava Labs, the company that developed the Avalanche blockchain, raised $350 million in funding.
What is known about Avalanche? The Avalanche blockchain was launched in September 2020. In September 2021, the Avalanche Foundation raised $230 million in a token sale led by Polychain and Three Arrows Capital. Before that, it had raised $18 million in two rounds.
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