Tuesday, January 25, 2022

Grayscale Launches Solana Trust — Company Now Manages $54 Billion Across 16 Crypto Investment Funds – Finance Bitcoin News

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Grayscale Investments has launched a solana belief. The firm now has almost $54 billion in complete property underneath administration. The new belief, which is the corporate’s sixteenth crypto funding product, will solely spend money on solana (SOL). The CEO of Grayscale stated that traders are more and more “diversifying their exposure beyond digital assets like bitcoin and ethereum.”

Grayscale Adds Solana to Its List of Investment Products

Grayscale Investments, the world’s largest digital foreign money asset supervisor, introduced Tuesday the launch of Grayscale Solana Trust. The new belief, which can “solely and passively” spend money on solana (SOL), the native token of the Solana community, is Grayscale’s sixteenth crypto funding product.

The announcement notes:

The belief is now open for every day subscription by eligible particular person and institutional accredited traders. The belief features the identical as Grayscale’s different single-asset funding trusts.

Grayscale’s different single-asset funding merchandise present publicity to bitcoin (BTC), primary consideration token (BAT), bitcoin money (BCH), chainlink (LINK), decentraland (MANA), ethereum (ETH), ethereum traditional (ETC), filecoin (FIL), litecoin (LTC), livepeer (LPT), stellar lumens (XLM), zcash (ZEC), and horizen (ZEN).

In addition, Grayscale gives diversified merchandise: Grayscale Digital Large Cap Fund and Grayscale Defi Fund. The former gives protection of the higher 70% of the crypto market by market capitalization. The latter gives publicity to a number of industry-leading defi (decentralized finance) protocols.

Grayscale CEO Michael Sonnenshein commented that for the previous eight years:

We have had a entrance row seat to the mainstream acceptance and adoption of crypto, and more and more discover that traders are diversifying their publicity past digital property like bitcoin and ethereum.

The firm reported $53.5 billion in complete property underneath administration (AUM) on Tuesday. Its hottest product is the bitcoin belief (GBTC) which has greater than $37.2 billion in property underneath administration, adopted by the ethereum belief (ETHE) with an AUM of virtually $14.2 billion.

What do you consider Grayscale launching a solana funding product? Let us know within the feedback part under.

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