One of the largest bitcoin asset managers, Valkyrie Investments, has announced that it will launch an on-chain defi fund next week.
Valkyrie Investments announced the launch of their first on-chain defi fund, which will invest in defi blue chips, yesterday. The location of the funds in this fund distinguishes it from similar offerings. In addition, rather than passively tracking asset values, Valkyrie proposes holding the assets on-chain. This means they’ll be able to employ them to generate yield and passive money by putting them in various protocols.
The DeFI fund will begin with a $100 million investment from a group of investors and partners.
“This allows us to participate in the upside while also obtaining additional revenue through lending, liquidity pools, farming, and staking in the defi ecosystem,” Wes Cowan, Valkyrie’s managing director of defi, said. As a result, we gain the appreciation as well as the compounded interest provided by
participation on the blockchain.” The fund will begin with a $100 million investment from numerous investors and the firm’s general partners. The decentralized finance movement is a big and diversified movement that exists across multiple cryptocurrency chains.
“On blockchains, such as Ethereum, Avalanche, and Solana, we see a lot of prospects.”
While other investors are more likely to invest in well-known protocols such as Ethereum, Valkyrie’s plan appears more daring. When Cowan listed the chains that this fund intends to invest in, he confirmed this. “We see a lot of chances on blockchains,” Cowan said. “We see a lot of opportunities on blockchains like Ethereum, Avalanche, Solana, Binance Smart Chain, Matic, and Fantom.” While this does not necessarily imply that they will invest in local tokens in these ecosystems, the inclusion of some of these choices is intriguing and a testament to some of these chains’ growth.