Bitcoin regulation is an ever-evolving topic, especially in the United States where national legislation is impacted by individual states.
Cryptocurrency and digital asset manager Valkyrie Investments, a firm strongly backing Bitcoin ETFs, has recently concluded its Series A funding round. In the round, the firm saw $10 million USD come in from a number of big players in the industry.
Charlie Lee, of the original Litecoin team, as well as institutional investors such as XBTO, BTC Media, UTXO Management, Consolidated Trading and 10X Capital all took part in the round – showing that the industry is looking to firms for functional and profitable opportunities. CJ Wilson, former Major League Baseball pitcher as well as Justin Sun also stood as big names backing the firm.
Cryptocurrency and an accessible future
Leah Wald, Valkyrie Investment CEO commented: “We believe crypto and digital assets are changing how people view, use, and invest their money. Our goal, as a firm, is to help bring more access to the opportunities they provide to a wider audience of people, and to do so in a managed, research-driven manner that ultimately provides best-in-class products to all kinds of investors.”
Steven McClurg, Valkrie’s Investment Officer echoed the sentiment that cryptocurrency is looking at an exciting future, despite the fact that the market might be volatile and uncertain. It seems investors are interested in the long-term possibility of profit, rather than a tentative short-term trade. Offering a platform that manages digital assets like Bitcoin, Polkadot and others positions Valkyrie – and its new backing investors – with the opportunity to offer customers a strong stance when the market turns upward again. As McClurg noted:
“This is an exciting time to be in the crypto markets… [the] demand for our products has been strong, and goes to show that even with markets having an uneven year, many family offices, investors, and others still seem to believe in the long-term potential of digital assets, and are see this as an opportunity to position themselves for success during the next bull cycle.”