In Brief:
- Valkyrie plans to launch a $100 million DeFi hedge fund next week.
- DeFi fund to include investments in at least 24 assets across 13 blockchains.
- The fund comprises assets from Ethereum, Solana, and others.
Valkyrie Investments is getting set to launch a $100 million hedge fund focused on decentralized finance.
The investment fund, titled the Valkyrie On-Chain DeFi Fund, will be available next week on Monday, November 22.
It will include at least 24 cryptocurrencies spread across 13 different blockchains.
No official list has been released yet, but the fund is expected to include assets from Ethereum, Solana, Avalanche, Binance Smart Chain, Matic, and Fantom.
The $100 million is to be contributed by existing Valkyrie investors. The firm’s general partners will be investing directly in the fund.
Valkyrie will keep its assets on-chain, allowing it to benefit from yield farming, staking rewards, and other similar returns on investment.
Profits from these activities are likely to be passed on to the investors.
Valkyrie’s Managing Director of DeFi, Wes Cowan, stated: “The fund was launched in response to demand from existing clients and investors, who also happen to make up the bulk of the launch funding.”
The DeFi hedge fund launch announcement came after Valkyrie’s filing to the U.S. Securities and Exchange Commission last month.
In October, the firm filed to launch the Valkyrie leveraged Bitcoin Futures ETF, which would deliver as much as 1.25 times the reference price of Bitcoin.
