Valkyrie Investments, an asset manager, has just announced the launch of an accredited investor trust focused on the Avalanche network's native Avalanche token, CoinDesk has reported.
The Valkyrie Avalanche Trust (VAVAX), whose custodian is Copper Technologies, reportedly does not offer the option to purchase other assets.
According to the company, it charges a management fee of 2%, with the minimum investment being $25,000.
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Valkyrie Investments has previously released products based on Bitcoin, Polkadot, Dash, Tron and Zilliqa, as well as a basket of assets (Bitcoin, Ethereum, Avalanche, Binance Coin, Terra, Polygon and others).
Ava Labs, the startup behind Avalanche, completed a $350 million funding round in April that resulted in the company's valuation reaching $5.25 billion.