Valkyrie Launches its First Multi-coin Trust

Investment offering seeks to pass along staking yields of up to 6%

article-image

Valkyrie CEO Leah Wald | Blockworks exclusive art by axel rangel

share

key takeaways

  • Industry at an “inflection point” where family offices and high-net-worth individuals are seeking multi-asset exposure, Valkyrie CIO says
  • Trust currently invests in eight assets, including AVAX, BNB and ATOM

Valkyrie Investments has launched its first multi-coin trust, as the product was designed to offer diversified exposure to protocols and pass along staking yields to investors.

The actively managed Valkyrie Multi-Coin Trust is focused on investing in blockchain networks and tokens that the firm believes are well-positioned to expand market share. It is for accredited investors only and has a minimum investment of $100,000.

The trust, which carries a management fee of 2.5%, was launched after discussions with potential investors looking for a product that represented the firm’s “highest-conviction plays” in the space, said Valkyrie Chief Investment Officer Steven McClurg.

“We launched this fund now because we believe the industry is at an inflection point where family offices, high-net-worth individuals and others are keen to enter the space and are looking for opportunities that go beyond just buying and holding a single asset,” he told Blockworks.

The trust currently allocates 10% of the fund’s capital to each of Avalanche (AVAX), Binance (BNB), Cosmos (ATOM), Helium (HNT), Terra (LUNA), Polygon (MATIC), and Zilliqa (ZIL), plus a 30% allocation to the Gemini USD (GUSD) stablecoin. The investments can change over time as crypto markets evolve.

“We believe that these protocols all have a bright, bullish future, and should see increased adoption and engagement in the coming years,” McClurg added, noting that the firm believes in the protocols’ founding teams and the projects being built on them.

Focusing on these coins also enables the firm to return staking yield to investors, he said, referring to the inflation rewards earned for participating in a network’s proof-of-stake consensus. The trust seeks to target an annual yield of four to six percent, and the fund’s custodian is Copper Technologies.

Based in Nashville, Valkyrie reached $1 billion in assets under management in February. The company currently offers six single-asset trusts focused on bitcoin, algorand, polkadot, dash, TRON and Zilliqa.   

The firm also has three ETFs trading in the US, including a bitcoin miners ETFs and a bitcoin strategy fund that invests in futures contracts.

McClurg said Valkyrie has more ETFs and trusts in the works, but declined to share specifics. The company is one of a handful of issuers seeking to launch a spot bitcoin ETF, which the SEC has not yet approved.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Research Report Templates.png

Research

An overview of the Base Ecosystem, with a focus on market leaders.

article-image

Although bitcoin hitting $120k by year’s end is looking unlikely

article-image

About 270 million HYPE has been claimed, valued around $7.6 billion

article-image

Stanford professors David Mazières and Dan Boneh will lead the lab alongside a cohort of graduate student researchers

article-image

With more companies holding BTC, bitcoin yielding strategies could become “a new corporate finance norm,” CoinShares posed

article-image

The proposal comes after Polygon governance considered a controversial use of bridged liquidity for yield

article-image

Can the community balance its decentralized ethos with the need for inclusivity and constructive debate?