Crypto Trading Firm Valkyrie Raises $ 10 Million To Boost Bitcoin ETF Hopes

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Crypto asset manager Valkyrie Investments has raised $ 10 million in Series A funding found from an interesting list of backers.

Precept Capital Management, XBTO, 10X Capital and UTXO Management were at the helm of fundraising, but it also included Tron founder Justin Sun, Litecoin founder Charlie Lee and former Major League Baseball pitcher CJ. Wilson.

Valkyrie is well known in the crypto space as one of the few U.S. companies that patiently waits for a bitcoin exchange-traded fund (ETF) to be approved by the Securities and Exchange Commission (SEC).

The funding will help lead Valkyries across three lines of business, the company’s chief investment officer Steven McClurg said:

This translates into expanding Valkyrie’s presence in Nashville, including hiring additional research, compliance and marketing staff, according to a press release. There are also plans to expand the presence of companies in Asia.

A few days ago, the SEC announced that it would delay a decision on the Valkyries ETF app, after pushing back a similar VanEck Bitcoin Trust app the week before.

Never in my career in financial services have I seen anything like this, where there are 13 applications for the same ETF product, McClurg said in an interview. It’s absolutely crazy.

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