Summary
- Global asset management firm VanEck announced plans to establish a new fund to support the Avalanche ecosystem.
- Pranav Kanade, VanEck portfolio manager, mentioned that Avalanche has consistently shown technical achievements and there are currently no plans for funds based on other blockchains.
- Avalanche (AVAX) briefly rose following the fund launch news but turned downward due to the impact of President Trump's EU tariff policy.
Global asset management firm VanEck is establishing a new fund to support the Avalanche (AVAX) ecosystem.
According to The Defiant on the 23rd (local time), VanEck plans to launch the 'VanEck PurposeBuilt Fund', which will invest in games, financial services, payments, and artificial intelligence (AI) projects developed on the Avalanche blockchain.
Pranav Kanade, VanEck portfolio manager, stated, "Avalanche has consistently demonstrated technical achievements," and "there are currently no plans for funds based on other blockchain ecosystems."
Meanwhile, Avalanche (AVAX), which had surpassed the $25 mark following the fund launch news, later turned downward, falling to $23.8 on the same day. This is attributed to the market pressure from U.S. President Donald Trump's 50% tariff policy on the European Union (EU) announced the same day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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