Valkyrie Investments, a leading investment manager focused on digital assets, announced today that it has launched a protocol treasury management service to help blockchain projects better manage their balance sheets.
Blockchain protocols are able to take advantage of services including cash flow management, proprietary investing, advanced reporting, and more, from a trusted name in digital and traditional asset management. This frees up the developers who often run these projects to focus on what they’re best at and leaves the administration of their war chest to professional asset managers.
“Treasury management services have long been available to corporate clients through traditional financial firms,” said Valkyrie Investments CEO Leah Wald. “This is the first such offering of its kind for companies in the digital asset space and represents another milestone in the institutionalization of this rapidly growing asset class.”
Engaging with a professional money manager to oversee the assets held by emerging and established companies in the blockchain space, which often number into the hundreds of millions of dollars, brings an additional level of trust to projects and provides the fiduciary responsibility to act in the best interest of the client.
“The first protocol to partner with Valkyrie to take advantage of this new treasury management offering is NEM & Symbol, two independent layer-one (L1) protocols whose communities voted on a merger last year. This collaboration was the result of the NEM & Symbol communities agreeing via vote to appoint Valkyrie as a manager to the protocol treasury.”
“The decision to use Valkyrie was an easy one for the community to make,” said NEM & Symbol core developer, Hatchet. “They were the most qualified asset manager we’d spoken to for this role, willing to adapt to our unique needs.”
“We’re proud to lead the way as the first protocol to utilize an asset manager and continue to move our industry standards further in the right direction,” said NEM & Symbol core developer, Jaguar.
“Utilizing Valkyrie enables us to deploy our resources where it will make the most impact – on engineering and product – rather than audits, finance and liquidity management,” said Gimre, NEM & Symbol core developer.
“Symbol aims to be financial fabric for everyone. The team is focused on building a non-turing complete blockchain with content-specific, scalable shards powered by zk-STARKS, called subChains. NEM will be one of the first underlying subChains of Symbol, enabling any media, content or token to take advantage network-wide royalties and payments.”
This launch comes on the heels of Valkyrie Investments recently announcing it has surpassed $1 billion in assets under management, and only weeks after the firm’s newest exchange traded fund, launched on Nasdaq, the third in a family of thematic Bitcoin-adjacent ETFs managed by Valkyrie Funds.