Valkyrie Investments

What Valkyrie Investments does

Valkyrie Investments is a Tennessee-based, privately held alternative asset management firm founded in 2019 that builds and distributes regulated investment vehicles providing exposure to digital assets. Its product suite has historically included cryptocurrency trusts (Bitcoin Trust, Polkadot Trust, Avalanche Trust), exchange-traded funds (Bitcoin Futures ETF, Leveraged Bitcoin Futures ETF, Bitcoin Miners ETF WGMI), macro-driven separately managed accounts (SMAs) for registered investment advisors, hedge funds, and a Learning Hub educational resource platform. The core technology is digital asset management infrastructure for these investment vehicles, with affiliated entity Valkyrie Funds LLC operating as an SEC-registered investment adviser.

The firm's business model is subscription-based recurring management fees on AUM across its product suite, distributed through direct institutional sales, an RIA/financial advisor network, and (historically) public ETF markets. It targets institutional investors, family offices, high-net-worth individuals, and RIAs seeking compliant, institutional-grade exposure to digital assets. The team is composed of traditional-finance veterans from Guggenheim Partners, MUFG, Ernst & Young, Chicago Board of Trade, Chicago Mercantile Exchange, and The World Bank, positioning the firm as a bridge between TradFi and the crypto economy.

In March 2024, CoinShares completed the acquisition of Valkyrie's ETF business, materially reshaping the company's revenue base and growth trajectory. Post-divestiture, the firm focuses on private trusts, SMAs, and hedge funds. The company is led by CEO Leah Wald and CIO Steven McClurg, is headquartered at 320 Seven Springs Way, Suite 250 in Brentwood, Tennessee, and has raised approximately $21.15 million in cumulative disclosed funding across rounds in 2020, 2021, and 2022.

Name

Valkyrie Investments

Legal name

Valkyrie Investments Inc.

Website

https://valkyrieinvest.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Valkyrie Investments is a Tennessee-based alternative asset manager focused on the digital asset economy. It offers cryptocurrency trusts, separately managed accounts, and hedge funds to institutional investors and registered investment advisors, following its 2024 divestiture of the ETF business to CoinShares.

Ownership category

akta.pro rank

Product category

Digital Asset Management

NAICS

Miscellaneous Financial Investment Activities (523999), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Vehicles (52599)

SIC

Investment Advice (6282), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Digital Assets / Crypto Fund of Funds (FSAHAKAL)

Keywords

• Cryptocurrency asset management
• Digital asset funds
• Bitcoin trust products
• Crypto ETF management
• Alternative asset management

Headquarters

HQ city

Brentwood

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Digital Asset Management Fees: Management fees from cryptocurrency trusts, ETFs, SMAs, and hedge funds targeting institutional investors and accredited investors seeking digital asset exposure

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Valkyrie Investments is an alternative asset management firm that offers institutional-grade digital asset investment vehicles, including cryptocurrency trusts (Bitcoin, Polkadot, Avalanche), exchange-traded funds (Bitcoin Futures ETF, Bitcoin Miners ETF), separately managed accounts (SMAs), and hedge funds. The firm targets institutional investors, family offices, registered investment advisors, and accredited investors seeking regulated, compliant exposure to digital assets such as Bitcoin, Ethereum, Avalanche, and Polkadot.

Product overview

Valkyrie Investments is a specialized alternative asset management firm bridging traditional finance and the digital asset economy. The company offers a suite of products including cryptocurrency trusts (Bitcoin Trust, Polkadot Trust, Avalanche Trust), ETFs (Bitcoin Futures ETF, Bitcoin Miners ETF WGMI, Leveraged Bitcoin Futures ETF), Separately Managed Accounts (SMAs) for financial advisors, and hedge funds. Additionally, the company provides educational resources through its Learning Hub. The product architecture is organized as a platform of investment vehicles targeting institutional investors seeking compliant exposure to digital assets, with the Bitcoin Fund being the company's first and flagship registered product.

Differentiator

Problem solved

Functional benefit

Brands

• Valkyrie Funds LLC: SEC Registered Investment Adviser affiliate providing digital asset management services

Products and services

• Valkyrie Bitcoin Trust (Bitcoin Fund) A registered Bitcoin trust that holds Bitcoin and trades close to net asset value, providing institutional-friendly exposure to Bitcoin.
• Polkadot Trust A trust product offering exposure to Polkadot (DOT) for accredited investors seeking diversified crypto holdings.
• Avalanche Trust A trust providing traditional finance exposure to the Avalanche (AVAX) token for accredited investors.
• Valkyrie Bitcoin Futures ETF A futures-based ETF providing exposure to Bitcoin through futures contracts, approved by the SEC.
• Valkyrie Bitcoin Miners ETF (WGMI) An ETF focused on Bitcoin mining companies, providing exposure to the Bitcoin mining sector.
• Digital Asset Separately Managed Accounts (SMAs) Macro-driven digital asset SMAs designed for registered investment advisors (RIAs) and financial advisors.
• Valkyrie Digital Asset Hedge Funds Hedge fund products offering institutional investors access to digital asset strategies.

Quantifiable outcome

• Successfully launched Bitcoin futures ETF approved by SEC
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Teucrium Trading: Commodity ETF sponsor whose Bitcoin futures ETF received SEC approval shortly before Valkyrie's. Directly comparable product line and regulatory pathway for crypto futures ETFs.
• Hashdex: Crypto asset manager offering index-based crypto ETFs and ETPs globally. Comparable as a thematic crypto fund manager targeting institutional and advisor channels.

Broad incumbents

• Fidelity Digital Assets: Subsidiary of Fidelity Investments providing crypto custody, trading, and recently spot Bitcoin ETF products. Comparable institutional crypto offering backed by a global incumbent asset manager.
• Galaxy Digital: Diversified crypto-focused alternative asset manager spanning asset management, trading, and principal investing. Competes in institutional digital asset mandates but with a much broader platform.
• WisdomTree: Established ETF sponsor with a growing lineup of crypto-linked ETPs and a digital assets business. Comparable institutional ETF distribution capabilities into advisor channels.

Direct peers

• Grayscale Investments: Largest crypto-focused asset manager offering single-asset trusts (GBTC, ETHE) and ETFs. Most direct competitor in the institutional crypto trust/ETF wrapper segment that Valkyrie pioneered.
• 21Shares: Crypto ETP provider with a broad lineup of single-asset and thematic exchange-traded products. Directly comparable as a pure-play crypto ETP/trust manager with institutional-grade products.
• Pantera Capital: Crypto-focused alternative asset manager offering venture, early-stage token, and liquid token funds. Comparable in offering hedge fund and venture-style vehicles to institutional crypto allocators.
• Bitwise Asset Management: Crypto index fund and ETF sponsor offering Bitwise Bitcoin ETF and a suite of thematic crypto funds. Comparable target market of professional investors and a similar multi-product strategy.
• CoinShares: European-headquartered digital asset investment firm that acquired Valkyrie's ETF business in March 2024. Directly comparable in product mix (ETPs, hedge funds, index strategies) and target client base of institutional and advisor allocators.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ValkyrieFunds
• Facebookfacebook.com/ValkyrieInvestments
• LinkedInlinkedin.com/company/valkyrieinvestments
• Instagraminstagram.com/valkyrieinvest

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Valkyrie Investments