Grayscale launches Solana Trust-the company now manages 16 crypto investment funds worth $54 billion-Finance Bitcoin News
Grayscale Investments launched the solana trust. The company now manages nearly 54 billion U.S. dollars in total assets. The new trust is the company’s 16th crypto investment product and will only invest in solana (SOL). Grayscale’s chief executive stated that investors are increasingly “diversifying their exposure to digital assets such as Bitcoin and Ethereum.”
Grayscale adds Solana to its investment product list
Grayscale Investments, the world’s largest digital currency asset management company, announced the launch of Grayscale Solana Trust on Tuesday. The new trust will “individually and passively” invest in the native token solana (SOL) of the Solana network, which is Grayscale’s 16th crypto investment product.
The announcement stated:
The trust is now open for daily subscription by qualified individuals and institutional accredited investors. The function of this trust is the same as Grayscale’s other single asset investment trusts.
Grayscale’s other single-asset investment products provide exposure to Bitcoin (Bitcoin), Basic Attention Token (BAT), Bitcoin Cash (Bitcoin cash), chainlink (LINK), decentraland (MANA), Ethereum (Ethereum), Ethereum Classic (and many more), File Coin (FIL), Litecoin (LTC), livepeer (LPT), Stellar Lumens (XLM), zcash (ZEC) and horizen (ZEN).
In addition, Grayscale provides diversified products: Grayscale Digital Large Cap Fund and Grayscale Defi Fund. The former covers more than 70% of the cryptocurrency market by market value. The latter provides opportunities for a series of industry-leading defi (decentralized finance) agreements.
Grayscale CEO Michael Sonnenshein has commented in the past eight years:
We are leading the way in mainstream acceptance and adoption of cryptocurrencies, and are increasingly finding that investors are diversifying their risk exposure beyond digital assets such as Bitcoin and Ethereum.
The company announced Tuesday’s total assets under management (AUM) of $53.5 billion. Its most popular product is Bitcoin Trust (GBTC), which has more than 37.2 billion U.S. dollars in assets under management, followed by Ethereum Trust (ETHE), which has close to 14.2 billion U.S. dollars in assets under management.
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