Grayscale Introduces A New Fund Dedicated To Solana

Twitter icon   • 1 minute read  •  Published hace 1 mes  •  Hassan Maishera

Grayscale is expanding the cryptocurrency funds available to institutional investors, and the firm has just added Solana to the list.

Grayscale Launches Its Solana Trust

Grayscale, one of the leading digital currency asset managers in the world, announced that it had launched the Grayscale Solana Trust. The Solana Trust is the sixteenth product in Grayscale’s suite of investment offerings.

In its press release yesterday, Grayscale said the Trust is solely and passively invested in Solana (SOL), the native token of the Solana network, a smart contract platform first conceived in a 2017 whitepaper.

Grayscale CEO Michael Sonnenshein commented that “For the last eight years, Grayscale has been at the forefront of offering investors efficient exposure to the ever-evolving digital currency ecosystem. Our family of Grayscale products will continue to expand alongside this exciting asset class, as we remain committed to offering investors opportunities to access the digital economy.”

Following this latest development, Grayscale single-asset investment products include; 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).

Furthermore, Grayscale eligible investors thematic exposure to digital assets through its diversified products, Grayscale Digital Large Cap Fund and Grayscale DeFi Fund, which provides exposure to a selection of industry-leading DeFi protocols.

Solana has been one of the best-performing cryptocurrencies so far this year. At the start of 2021, Solana was trading at $1.50 per coin. However, it has experienced massive growth over the past 11 months and is now trading above $200 per coin.

Grayscale remains one of the leading asset managers in the cryptocurrency space. The firm intends to convert its Bitcoin Trust (GBTC) into an exchange-traded fund (ETF). However, the United States Securities and Exchange Commission (SEC) has been rejecting the various Bitcoin spot ETF applications.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

Sign up to our Newsletter

Want to read more amazign articles just like this one? Sign up to our newsletter to get them delivered to your inbox once a week!