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Grayscale has run a Solana-based trust

Industry News

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The world-known investment corporation Grayscale announced the launch of a new trust pegged to Solana.

Investors are about to access the trust without previous payments, while the annual commission is 2.5% Grayscale relies on the CoinDesk SLX index to monitor the daily price of the SOL token.

As for the trust’s potential, Grayscale aims to list shares of the Solana trust on exchanges, following the example of GBTC; meanwhile, the corporation representatives assume possible hurdles related to governmental restrictions.

Grayscale Investments comments on the launch of a new fund: “The sector of crypto assets is growing, and we’ve decided to expand our offerings. Gain exposure to SOL through our newly created trust.”

Previously, in October, Grayscale Investments added SOL alongside the Uniswap token to the portfolio of its Digital Large Cap Fund. The corporation is now keeping 16 investment funds under its management, while the overall amount of assets is worth $52.7 billion.

Investment trusts are not enough for Grayscale, as the corporation wants to get more. At the beginning of November, the company submitted an application to launch ETF based on blockchain-related companies.

Solana is the 5th digital currency according to market capitalization. Since the beginning of 2021, the SOL price has skyrocketed by more than 12000%.

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