The world’s largest digital asset manager expands its reach into the Solana ecosystem.
Another Giant Steps Into Solana
Grayscale Investments, the market-leading in digital asset management, has launched the ‘Grayscale Solana Trust’ on Nov. 30.
The trust is the 16th product in the asset manager’s suite of investment offerings. It already has assets under management (AUM) of $10.30 million with shares outstanding of 4,674,600. Each share represents 0.0099911 SOL tokens. The trust is solely and passively invested in SOL, allowing its investors to gain exposure to the price volatility of the token without having to interact with the asset class directly.
“For the last eight years, Grayscale has been at the forefront of offering investors efficient exposure to the ever-evolving digital currency ecosystem. 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. 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,” stated Michael Sonnenshein, CEO of Grayscale Investments, in the official press release of the announcement.
The Grayscale Bitcoin Trust is the largest Bitcoin fund in the world, with assets under management (AUM) of over $37 billion and a trailing 194.02% return on investment (ROI) as per data from the official website. The fund has 692,370,100 shares outstanding in the market and has posted phenomenal returns of 38,207.14% since its inception. The constitution of the fund is such that each share represents 0.00093284 BTC.
What is Grayscale?
Grayscale is a digital currency asset manager that was founded back in 2013. The firm currently has over $50.7 billion in asset under management (AUM) and have funds for various large-cap cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Filecoin (FIL), Livepeer (LPT), Decentraland (MANA) amongst others.
Find more about Grayscale here:
Source : solana.news
Founded in 2020, solana News is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (solana). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. solana News aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the solana DeFi space.
solana NEWS is a private news network. All posts posted by this user belong 100% to solana.news All rights are reserved to Solana NEWS.