Avalanche Price Rises 14% on Launch of New Trust

Avalanche price rises 14% on launch of new trust. Digital asset manager Valkyrie revealed the new trust in a press release on Wednesday. The trust will invest in $AVAX on behalf of institutional investors, allowing them to gain exposure without buying tokens directly. Valkyrie said the planned investment trust will only be available to qualified investors. After the announcement $AVAX jumped 14% in a few hours to one-week high of $68.36.