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Grayscale launches Solana Trust – Company now manages $ 54 billion in 16 crypto funds

Grayscale Investments has launched a solana trust. The company now has nearly $ 54 billion in total assets under management. The new trust, which is the company’s 16th crypto investment product, will invest only in solana (SOL). Grayscale CEO said investors are “increasingly diversifying their exposure beyond digital assets like bitcoin and ethereum.”

Grayscale adds Solana to its list of investment products

Grayscale Investments, the world’s largest digital currency asset manager, announced the launch of Grayscale Solana Trust on Tuesday. The new trust, which will invest “only and passively” in solana (SOL), the native token of the Solana network, is Grayscale’s 16th crypto investment product.

The announcement notes:

The Trust is now open for daily subscription by Qualified Qualified Individual and Institutional Investors. The trust operates in the same manner as other Grayscale single-asset investment trusts.

Grayscale’s other single-asset investment products offer 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).

In addition, Grayscale offers diversified products: Grayscale Digital Large Cap Fund and Grayscale Defi Fund. The first covers the top 70% of the crypto market by market cap. The latter provides exposure to a selection of cutting-edge challenge (decentralized finance) protocols.

Grayscale CEO Michael Sonnenshein said that over the past eight years:

We’ve been at the forefront of mainstream acceptance and adoption of crypto, and we’re increasingly seeing investors diversify their exposure beyond digital assets like bitcoin and ethereum.

The company said on Tuesday $ 53.5 billion in assets under management (AUM). Its most popular product is the bitcoin trust (GBTC) which manages over $ 37.2 billion in assets under management, followed by the ethereum trust (ETHE) with nearly $ 14.2 billion in assets under management.

What do you think of Grayscale’s launch of a Solana investment product? Let us know in the comments section below.

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