Osprey Funds LLC, a Fairfield-headquartered cryptocurrency investment firm, announced that its Osprey Polkadot Trust (ODOT) is now publicly trading on the OTCQX market.
According to the company, this the first U.S. publicly traded fund to invest exclusively in DOT, the native token of the Polkadot network. Originally launched in April 2021 for private placement, the Osprey Polkadot Trust is now accessible to U.S. investors through traditional brokerage and IRA accounts; the company also stated it was waiving ODOT’s 2.5% management fee through at least Jan. 1, 2023.
Led by Ethereum co-founder Gavin Wood, Polkadot is the base layer protocol that enables developers to build Web 3.0 with scalability, security, self-governance, and interoperability. It is one of the fastest-growing blockchain networks in the world with a market capitalization over $9.69 billion, the company added.
“Polkadot is a groundbreaking project aimed to create a completely decentralized web where users are in control,” said Greg King, CEO of Osprey Funds. “While DOT access was previously limited, ODOT allows more investors to conveniently, securely and cost-effectively tap into this innovative cryptocurrency.”
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