The round, which was oversubscribed, saw the firm secure $11.15 from several investors, including BNY Mellon, Coinbase Ventures, Wedbush Financial Services and Clearsky. Other participants were Zilliqa Capital, SenaHill Partners, C-Squared Ventures, and Belvedere Strategic Capital.
Valkyrie co-founder and CIO Steven McClurg said in a statement that the funding round is an indicator of the huge interest investors have in crypto as well as what the company is building.
The funds will go into further developments of the company’s proprietary technology infrastructure as well as into hiring new staff.
According to McClurg, the new strategic funding will allow the firm to provide better services across the market. The firm also plans to better integrate its services with traditional platforms, he noted.
Valkyrie is a key player in the crypto market, offering several products that give institutional investors exposure to crypto assets. Its Bitcoin Futures ETF debuted last year, and it is among multiple firms looking to launch a Bitcoin spot ETF.
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