NASHVILLE, TN—Valkyrie Digital Assets Investments, an alternative asset management firm, launched the Valkyrie Algorand Trust. Valkyrie currently has three investment vehicles to offer with this new addition, including Valkyrie Bitcoin Trust and Valkyrie Polkadot Trust.
Valkyrie provides investors exposure and access to Algorand (ALGO) in an insurable and cost-effective manner. ALGO is the digital asset that powers the Algorand Network. The ALGO trust aims to provide four to six percent annualized yield alongside the total returns of ALGO.
"Algorand is a rapidly growing, innovative blockchain network with a number of significant projects being built on it," said Leah Wald, CEO of Valkyrie Investments. "We couldn't be more excited to offer this Trust, and are doing so in response to significant demand from the investors we speak to weekly."
Valkyrie opens the trust with a minimum investment of $25,000 and only for accredited investors.They take two percent as the management fee to oversee the ALGO trust. There are currently more than 700 organizations around the world that use ALGO.
"Valkyrie is at the forefront of digital asset offerings and we are excited they are expanding participation opportunities for those who want to be a part of the growing Algorand ecosystem," said W. Sean Ford, COO of Algorand. "They have created a unique offering and are proving their commitment to supporting a wide universe of digital assets."
Valkyrie Investments recently raised $10 million in Series A round from multiple industry leaders, including professional finance, media, sports, and more. Valkyrie builds direct investments, funds, and portfolios that add real value to the economy and society. The firm is waiting for SEC's approval on multiple exchange-traded funds (ETFs).
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