NEW: ValkyrieFunds will oversee NEMofficial’s $700 million token treasury in a novel tie-up between an asset manager and a crypto protocol. realDannyNelson reports
Valkyrie Investments will oversee NEM and Symbol protocol’s $700 million token treasury in a tie-up between modern-day asset managers and the digital realm., is an early instance of collaboration between two disparate corners of crypto. Valkyrie is a Wall Street-facing outfit known for its bitcoin futures exchange-traded fund; Symbol is one of the many blockchain protocols where pseudonymous users are building “the future of finance.
NEM and Symbol – two separate blockchain protocols that voted to merge – have had “a bit of a history” of treasury management troubles, Hatchet, a core contributor told CoinDesk. In the project’s Discord she’s repeatedly pressed for a partnership that would shore up that checkered reputation. “I think that we're the only ones working with a DAO and protocol treasury as an asset manager,” Valkyrie CEO Leah Wald told CoinDesk in an interview.
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