Grayscale Investments launched a solana trust. Now, the company has almost $54 billion of total assets under its 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 on 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.
Notes from the announcement:
Now, the trust can be subscribed daily by qualified institutional and individual 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).
Grayscale has a range of other products including Grayscale Digital Large Cap Fund, Grayscale Defi Fund. First, it covers 70% of the cryptocurrency market by market capitalization. This second option allows you to access a variety of decentralized finance (decentralized financing) protocols that are industry leaders.
Grayscale CEO Michael Sonnenshein said that over the last eight years,:
Our experience has been invaluable in observing the widespread acceptance of crypto and its adoption. We also find investors diversifying beyond bitcoin and other digital assets to increase their risk exposure.
According to Tuesday’s total assets under administration (AUM), the company has $53.5 million. The company’s most popular product, the Bitcoin Trust (GBTC), has over $37.2 billion of assets under management. It is followed closely by the ethereum Trust (ETHE), which has an AUM close to $14.2 billion.
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