Valkyrie and TRON Foundation to launch Valkyrie TRON Trust
TRON Foundation is pleased to announce the launch of Valkyrie TRON Trust by strategic partner Valkyrie Investments on September 17, 2021. Valkyrie TRON Trust is the first among a series of upcoming institutional-grade fund offerings globally for the TRON crypto ecosystem. It is expected to start with $55m in AUM on inception, with a plan to file for US listing in 2022.
Justin Sun, founder of TRON, comments, “TRON was incepted with a mission to decentralize the Web. TRX is the layer-1 token of TRON network that powers the entire TRON ecosystem. This is the initial step in its upcoming strategic initiatives to be announced shortly.”
Valkyrie CEO Leah Wald comments, “We are thrilled to work with TRON to launch the first TRON Trust in the US. TRON has established a reputation as the most inclusive blockchain with its energy efficient and low cost platform.”
Founded in 2018, TRON network is the most popular blockchain platform in the world with a global user base exceeding 54 million and total crypto assets of $50 billion. In addition, it is home to the largest stablecoin circulation in USDT which stands at $36 billion or over 50% of global market share.
Valkyrie Investments is a US-based investment manager specialised in digital and crypto assets. In addition to TRON Trust, it has previously filed to list Bitcoin Innovation Fund (ETF) as well as BitCoin ETF joining a slew of high profile asset managers that filed with SEC for Bitcoin ETF this year. The firm has launched four crypto trusts, including Bitcoin,TRON, Algorand and Polkadot.
September 17, 2021