Investment trusts News

Crypto market correlation and Valkyrie's Avalanche fund launch also helped push AVAX to a weekly high.

The firm says it has already invested in 11 companies and Web3 protocols such as Aave, MakerDAO, LayerZero and others, with plans to participate in the governance systems of some projects.

“I think all options are on the table,” said the Grayscale CEO, adding that the company has put its “full resources” into converting its flagship Bitcoin trust.

More capital enters the flagship Grayscale trust as it eyes regulator approval to become an exchange-traded fund later this year.

“The new charter will enable us to provide secure, reliable and efficient investment, trading, and custodian services for a wide range of digital assets," said SFOX co-founder Akbar Thobhani.

The service would only be available to institutional investors for now, but Fidelity is also launching Bitcoin ETFs to cater to retail interest.

Wood recently asserted the crypto downtrend has improved the chances of a Bitcoin ETF securing regulatory approval.