Grayscale Investments, the world’s biggest digital currency asset manager, declared Tuesday the launch of Grayscale Solana Trust. The new trust, which will “solely and passively” put resources into solana (SOL), the native token of the Solana network, is Grayscale’s sixteenth crypto investment product. In addition, Grayscale offers differentiated products: Grayscale Digital Large Cap Fund and Grayscale Defi Fund. The previous gives coverage of the upper 70% of the crypto market by market capitalization. The last option gives exposure to a selection of industry-driving defi (decentralized finance) protocols.
Grayscale’s other single-asset investment products provide exposure to bitcoin (BTC), basic attention token (BAT), bitcoin cash (BCH), chainlink (LINK), decentraland (MANA), ethereum (ETH), ethereum classic (ETC), filecoin (FIL), litecoin (LTC), livepeer (LPT), stellar lumens (XLM), zcash (ZEC), and horizen (ZEN).
The announcement notes: The trust is now open for daily subscription by eligible individual and institutional accredited investors. The trust functions the same as Grayscale’s other single-asset investment trusts.
Grayscale CEO Michael Sonnenshein commented that for the past eight years: We have had a front row seat to the mainstream acceptance and adoption of crypto, and increasingly find that investors are diversifying their exposure beyond digital assets like bitcoin and ethereum.
The company reported $53.5 billion in total assets under management (AUM) on Tuesday. Its most popular product is the bitcoin trust (GBTC) which has more than $37.2 billion in assets under management, followed by the ethereum trust (ETHE) with an AUM of almost $14.2 billion.
News Summary:
- Grayscale Introduces Solana Trust: Firm Now Manages $ 54 Billion in 16 Crypto Mutual Funds
- Check all news and articles from the latest Business news updates.
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