HomeCoinsBitcoin Cash (BCH)Grayscale Launches Solana Trust — Company Now Manages $54 Billion Across 16...

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

- Advertisement -


Grayscale Investments has launched a solana trust. The company now has nearly $54 billion in total assets under management. The new trust, which is the company’s 16th crypto investment product, will solely invest in solana (SOL). The CEO of Grayscale said that investors are increasingly “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 currency asset manager, announced Tuesday the launch of Grayscale Solana Trust. The new trust, which will “solely and passively” invest in solana (SOL), the native token of the Solana network, is Grayscale’s 16th crypto investment product.

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’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).

In addition, Grayscale offers diversified products: Grayscale Digital Large Cap Fund and Grayscale Defi Fund. The former provides coverage of the upper 70% of the crypto market by market capitalization. The latter provides exposure to a selection of industry-leading defi (decentralized finance) protocols.

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.

What do you think about Grayscale launching a solana investment product? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Read the original article here

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,560FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 36,444.00
ethereum
Ethereum (ETH) $ 2,392.63
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 284.22
litecoin
Litecoin (LTC) $ 106.40
eos
EOS (EOS) $ 2.20
okb
OKB (OKB) $ 20.48
tezos
Tezos (XTZ) $ 2.87
leo-token
LEO Token (LEO) $ 3.46
cardano
Cardano (ADA) $ 1.02
monero
Monero (XMR) $ 141.91
stellar
Stellar (XLM) $ 0.191392
chainlink
Chainlink (LINK) $ 14.86
huobi-token
Huobi Token (HT) $ 8.65
tron
TRON (TRX) $ 0.056289
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 92.74
neo
NEO (NEO) $ 18.11
iota
IOTA (MIOTA) $ 0.788573
nem
NEM (XEM) $ 0.095416
zcash
Zcash (ZEC) $ 88.13
maker
Maker (MKR) $ 1,776.42
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 24.19
vechain
VeChain (VET) $ 0.051634
true-usd
TrueUSD (TUSD) $ 0.999506
ftx-token
FTX Token (FTT) $ 38.25
kucoin-shares
KuCoin Token (KCS) $ 16.01
waves
Waves (WAVES) $ 9.55