VanEck plans to launch a PurposeBuilt fund focused on the Avalanche ecosystem
According to Blockworks, cryptocurrency investment firm VanEck plans to launch the VanEck PurposeBuilt Fund focused on the Avalanche ecosystem next month. The fund will be managed by the VanEck Digital Assets Alpha Fund and will primarily invest in liquid tokens and venture capital-backed projects, covering various fields such as gaming, financial services, payments, and artificial intelligence.
Pranav Kanade, portfolio manager of the VanEck Digital Assets Alpha Fund, stated that Avalanche was chosen because its Layer 1 architecture allows developers full control over the tech stack, and its C-Chain provides a competitive high-throughput Ethereum Virtual Machine environment for early-stage teams. The fund will adopt a fundamentals-driven long-term investment strategy, mainly investing around token generation events. Unused funds will be deployed on-chain through real-world asset products on Avalanche.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
U.S. Treasury yields rise across the board
BNB Surpasses $670
WLD is currently priced at $1.19, with a 24-hour increase of 9.3%
Data: BTC Reaches $109,666, Setting a New All-Time High
Crypto prices
More
