Valkyrie Launches Avalanche Trust

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Today’s Cryptocurrency Headline

Digital asset manager Valkyrie Investments has launched the Valkyrie Avalanche Trust (VAVAX), an Avalanche trust fund, which will be open to accredited investors. The fund has raised $25 million thus far, according to sources. VAVAX allows daily redemptions, minimum investment is $25,000 with a 2% management fee. Previously, Valkyrie Investments launched VMCT, a crypto trust product focused on PoS tokens. 

BingX’s Bitcoin Chart

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MicroStrategy announced its financial results for the first quarter of 2022. The financial report showed that its non-cash digital asset impairment in the first quarter reached $170.1 million, an increase of 16% from the previous quarter. BTC is down 8.3% over the last 24 hours and has fallen to an intraday low of $35,570.46. The largest cryptocurrency plunged alongside the traditional market on Thursday as investors continued to digest the implications of higher rates. The current market sentiment is extremely weak as the Crypto Fear & Greed Index is showing the market is in the extreme fear territory.

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