The Valkyrie Multi-Coin Trust is meant for institutions looking to diversify their crypto portfolios. Which altcoins made the cut? Covered: Valkyrie Multi-Coin Trust Institutions Are On The Hunt For The “Next Ethereum” RECOMMENDED: GRAYSCALE COULD SUE THE SEC IF ITS BITCOIN SPOT ETF IS DENIED Valkyrie Multi-Coin Trust The $1 billion investment manager Valkyrie Investments, […] The post Billion Dollar Valkyrie’s Multi-Coin Trust Holds LUNA, AVAX, And These Five Altcoins appeared first on CryptosRus.

Billion Dollar Valkyrie’s Multi-Coin Trust Holds LUNA, AVAX, And These Five Altcoins

The Valkyrie Multi-Coin Trust is meant for institutions looking to diversify their crypto portfolios. Which altcoins made the cut?

Covered:

  • Valkyrie Multi-Coin Trust
  • Institutions Are On The Hunt For The “Next Ethereum”

RECOMMENDED: GRAYSCALE COULD SUE THE SEC IF ITS BITCOIN SPOT ETF IS DENIED

Valkyrie Multi-Coin Trust

The $1 billion investment manager Valkyrie Investments, responsible for launching a Bitcoin futures exchange-traded fund (ETF) as well as a Bitcoin mining ETF, just pitched a brand new trust that reaches a bit further down the risk curve.

The Valkyrie Multi-Coin Trust (VMCT) includes a basket of seven different layer-1 blockchains that will be reassessed monthly to determine any rebalancing:

  • Terra (LUNA)
  • Avalanche (AVAX)
  • Binance (BNB)
  • Cosmos (ATOM)
  • Helium (HNT)
  • Polygon (MATIC)
  • Zilliqa (ZIL)

Chief Investment Officer Steve McClurg says that the VMCT already has $15 million in commitments. The fund was developed in response to institutional demand, with interest being generated from large banks and insurance companies, according to insight from a CoinDesk representative.

The Valkyrie Multi-Coin Trust is not just a passive buy-and-hold fund, however. It’s being actively managed with a goal of generating staking rewards, targeting up to 6% per year.

RECOMMENDED: VALKYRIE DIGITAL ASSETS ADDS ALGORAND TRUST TO PORTFOLIO

Institutions Are On The Hunt For The “Next Ethereum”

McClurg says that this fund was created in response to institutions’ interest to capture value from the “next big thing” as they already have money tied up in Ethereum.

“People have already made their money in Ethereum and they want the next thing. That’s really what this represents.”

This fund reflects some common ground between retail and big money investors alike. It shows that despite the vast discrepancy in the size of each player’s money pot, this sentiment from institutions tells retail that the two are very much alike. Everyone is after the “Next Ethereum,” institutional investors just have a lot more capital to play with than the average joe.

Though these institutional funds might spend a bit more in-depth time doing their own research, at the end of the day, they’re still just laying out a board and throwing the darts to see which one lands. It goes to show just how difficult it is to pick out which altcoin is going to be the “Next Ethereum,” if there even is such a thing.

This tweet from Ansem rings true of the entire crypto space, not just for infrastructure players. Every blockchain will shill the investor their endless list of “differentiating” factors as to why they are the better blockchain, but if the market doesn’t see it, is it really better than the rest?

People want functions, not bullet points. Let the market decide what’s best, and follow that signal rather than trying to project the best onto the market.

The post Billion Dollar Valkyrie’s Multi-Coin Trust Holds LUNA, AVAX, And These Five Altcoins appeared first on CryptosRus.