Digital assets-focused investment management firm Valkyrie Investments has initiated a protocol treasury management service to aid blockchain project balance sheet management.
“Treasury management services have long been available to corporate clients through traditional financial firms,” Valkyrie Investments CEO Leah Wald said. “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.”
Valkyrie Investments indicated blockchain protocols take advantage of services such as cash flow management, proprietary investing, advanced reporting, among others, from a trusted name in digital and traditional asset management.
Developers operating the projects can then focus on strengths while leaving the war chest administration to professional asset managers.
“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,” Wald said. “This collaboration was the result of the NEM & Symbol communities agreeing via vote to appoint Valkyrie as a manager to the protocol treasury.”
Valkyrie Investments previously announced it surpassed $1 billion in assets under management, and the firm’s newest exchange traded fund recently launched on Nasdaq, officials indicated.