A funeral will be held on Friday for the 14-year-old boy who died in a sword attack in east London two weeks ago.
Daniel Anjorin died near his home as he walked to school in Hainault on April 30 in an attack which also left four people injured – including two police officers.
A Go Fund Me page set up in Daniel’s honour on behalf of Grace Anjorin has received more than £150,000.
A message from “Mr and Mrs Anjorin and family” posted on the page thanked the community for its emotional and financial support.
“In the wake of our son Daniel’s tragic death we wish to thank you for your support which has been a source of comfort and strength to our family”, they said.
“We deeply appreciate your generous donation.”
The family continued: “Due to the trauma of Daniel’s death particularly on his siblings we have decided to use the donation provided towards establishing a new family home.
“This home will not only provide a place of solace and gathering for our family but will also stand as a lasting tribute to Daniel’s legacy.”
Marcus Arduini Monzo, 36, a dual Spanish-Brazilian national living in Newham, east London, has been charged with Daniel’s murder, two counts of attempted murder and two counts of causing grievous bodily harm with intent.
He was also charged with aggravated burglary and possession of a bladed article.
In a statement issued by the Metropolitan Police, the family previously said: “We as a family are devastated by the loss of our beloved son Daniel.
“It is difficult for us at this time to process what has happened to him and that he will never come home. Daniel had left the house for school and then he was gone.
“Our children have lost their loving and precious brother and we have lost the most loved and amazing son.”
The family also sent “best wishes” to the other victims of the attack, thanked the local community for its support, and asked for privacy.
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