Valkyrie Digital Assets is launching its fourth investment vehicle, the Valkyrie Dash Trust. The fund would include staking on top of exposure to the underlying asset. The company launched a trust denominated in Dash. Earlier, it launched a Bitcoin Trust, Algorand Trust and a Polkadot Trust.
The Trust is the first investment vehicle at Valkyrie that would solely invest in Dash (DASH). The primary investment objective of the Trust is to reflect the value of Dash held within the Trust. It would also offer investors access and exposure to the cryptocurrency in an insurable, cost-effective manner.
Statements from Valkyrie and Dash Executives on The New Trust
“This was actually supposed to be our second trust that we launched after bitcoin ” said Steven McClurg, Valkyrie’s chief investment officer. “The hardest piece was the staking part. There’s a lot of tax law considerations that we have to go through when we launch any sort of staking within a trust.”
Valkyrie didn’t reveal the yield on the trust. He further added that it would trade on over-the-counter markets where it would be available to retail investors.
“The Dash community is thrilled that Valkyrie launched a Dash Trust because they are committed to education and research for the assets they support,” said Ryan Taylor, CEO of Dash Core Group. “This new product makes it possible for investors to easily gain exposure to Dash within brokerage accounts, including IRAs, which we know many investors will appreciate.”
The fund will allow institutions to gain exposure to staking dash without having to run a “master node”. This would require them to hold 1,000 Dash. This would cost about $163,000 at current prices, compared with the $25,000 minimum investment for the Valkyrie trust.
Taylor also said that he hopes to one day see a Dash exchange-traded fund (ETF), or for Valkyrie’s trust convert into an ETF.