Valkyrie Investments intends to launch a new hedge fund tied to the management of several DeFi facilities
The fund will begin operations Next week
The Valkyrie On-Chain DeFi Fund, which will be available next week, specifically on November 22nd, is the name of the investment vehicle.
It includes at least 24 cryptocurrencies spread across 13 different blockchains. The whole list is still being finalized, but it will include assets from Ethereum, Solana, Avalanche, Binance Smart Chain, Matic, and Fantom.
Valkyrie investors and general partners will contribute a total of $100 million to the hedge fund.
Valkyrie DeFi CEO Wes Cowan indicated that the company will keep assets on the chain, allowing it to profit from income breeding, reward staking, and other such investments. Profits from such activities should be distributed to investors.
Valkyrie has been one of the numerous companies pursuing a Bitcoin Exchange Traded Fund for years (ETF). Valkyrie was one of the first asset managers to create a Bitcoin futures ETF this fall, despite the fact that a spot Bitcoin ETF has yet to be approved.
