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

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

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

Grayscale Investments has launched a solana belief. The firm now has practically $54 billion in whole belongings beneath administration. The new belief, which is the corporate’s sixteenth crypto funding product, will solely spend money on solana (SOL). The CEO of Grayscale mentioned that buyers are more and more “diversifying their publicity past digital belongings 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 each day subscription by eligible particular person and institutional accredited buyers. 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 basic (ETC), filecoin (FIL), litecoin (LTC), livepeer (LPT), stellar lumens (XLM), zcash (ZEC), and horizen (ZEN).

In addition, Grayscale provides diversified merchandise: Grayscale Digital Large Cap Fund and Grayscale Defi Fund. The former offers protection of the higher 70% of the crypto market by market capitalization. The latter offers publicity to a collection 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 buyers are diversifying their publicity past digital belongings like bitcoin and ethereum.

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

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