Key points
- Grayscale’s Avalanche Trust offers exposure to the AVAX token, enhancing its suite of crypto products.
- The AVAX token is crucial for transaction fees and blockchain security on Avalanche.
Share this article
Leading asset manager Grayscale Investments announced Today marks the launch of Grayscale Avalanche Trust, a new investment product aimed at giving investors exposure to Avalanche (AVAX), a popular blockchain platform known for its scalability, security, and decentralization.
Grayscale said the trust is part of the company's strategy to provide investors with diverse exposure to cryptocurrencies.
“The launch of the Grayscale Avalanche Trust highlights Grayscale’s continued commitment to providing investors with innovative opportunities to access exciting developments in the crypto ecosystem,” said Rayhaneh Sharif-Askary, Director of Product and Research at Grayscale.
The new trust, which operates similarly to Grayscale's existing funds, marks a significant addition to Grayscale's growing list of more than 20 cryptocurrency investment products. At the time of publication, Grayscale Avalanche Trust The shares are trading at $11.75 and it charges a 2.5% management fee.
Grayscale also offers trusts tied to several crypto assets such as Solana, Stellar, Chainlink, Near and Litecoin. The firm has just launched new funds that Investing in Sui and Bittensor Earlier this month.
The introduction of Grayscale Avalanche Trust comes at a time when institutions like JPMorgan and City are embracing Avalanche’s customizable platform, particularly through its specialized subnets, Avalanche shared in a blog post. mail.
Avalanche has positioned itself as a leading platform for RWA tokenization by collaborating with several institutions and companies, according to Grayscale.
“Through its key strategic partnerships and unique multi-chain structure, Avalanche is playing a pivotal role in advancing RWA tokenization,” Sharif-Askary noted.
According to a separate announcement from Franklin Templeton on Thursday, the asset management firm has expanded its Franklin OnChain US Government Money Fund to the Avalanche Network.
This move marks the first instance of an on-chain money market fund on Avalanche. Institutional investors can now access Franklin Templeton’s system of record, Benji Investments, through the Avalanche network, provided they meet certain eligibility criteria.
Avalanche’s AVA token rose 5% to nearly $25 on positive news. At the time of writing, AVAX is trading at $24.6, up 6% over the past 24 hours, according to CoinGecko. data sample.
Share this article
