Grayscale launches Solana Trust – company now manages $54 billion in 16 cryptographic investment funds – Bitcoin Finance News

Grayscale launches Solana Trust – company now manages $54 billion in 16 cryptographic investment funds – Bitcoin Finance News

Grayscale CEO Michael Sonnenshein commented that for the past eight years: 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. 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 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. The announcement notes:

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). 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.

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. More Popular NewsIn Case You Missed It Image Credits: Shutterstock, Pixabay, Wiki Commons

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

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