Grayscale Launches Solana Trust — Company currently Manages $54 Billion Across sixteen Crypto investment

Grayscale Investments has launched a solana trust. The corporation currently has nearly $54 billion in total assets below management. The new trust, that is that the company’s sixteenth crypto investment product, can exclusively invest in solana (SOL). The chief executive officer of Grayscale mentioned that investors are progressively “diversifying their exposure on the far side of digital assets like bitcoin and ethereum.”

Grayscale Adds Solana to Its List of Investment product

Grayscale Investments, the world’s largest digital currency plus manager, declared Tuesday the launch of Grayscale Solana Trust. The new trust, which is able to “solely and passively” invest in solana (SOL), the native token of the Solana network, is Grayscale’s sixteenth crypto investment product.

The announcement notes:

“The trust is currently open for daily subscription by eligible individual and institutional authorised investors. The trust functions as Grayscale’s different single-asset investment trusts.”

Grayscale’s different single-asset investment product offer exposure to bitcoin (BTC), basic attention token (BAT), bitcoin money (BCH), chainlink (LINK), decentraland (MANA), ethereum (ETH), ethereum classic (ETC), filecoin (FIL), litecoin (LTC), livepeer (LPT), stellar lumens (XLM), zcash (ZEC), and horizon (ZEN).

In addition, Grayscale offers wide-ranging products: Grayscale Digital corporation Fund and Grayscale Defi Fund. The previous provides coverage of the higher 70% of the crypto market by capitalisation. The latter provides exposure to a variety of industry-leading defi (decentralized finance) protocols.

Grayscale chief executive officer archangel Sonnenshein commented that for the past eight years:

“We have had a front row seat to the thought of acceptance and adoption of crypto, and progressively realize that investors are diversifying their exposure on the far side of digital assets like bitcoin and ethereum.”

The company reported $53.5 billion in total assets below management (AUM) on Tuesday. Its hottest product is that the bitcoin trust (GBTC) that has over $37.2 billion in assets below management, followed by the ethereum trust (ETHE) with associate terrorist group of just about $14.2 billion.