Hassan Maishera
TL;DR
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Grayscale has launched a new fund to offer investors exposure to AVAX, Avalanche’s native token.
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This comes after the asset manager recently launched the SUI and MKR funds.
Grayscale Launches its AVAX-Focused Fund
Cryptocurrency asset manager and exchange-traded funds (ETF) provider Grayscale Investments announced on Thursday that it has launched a new AVAX-focused token.
Thanks to this latest development, Grayscale has added an Avalanche blockchain token trust to the slew of new products the firm has recently introduced.
The Grayscale Avalanche Trust allows investors to gain exposure to AVAX, Avalanche’s native token. The asset manager has been rolling out new products in recent weeks thanks to the growing interest in publicly tradeable products linked to cryptocurrencies following the approval of spot Bitcoin and Ethereum ETFs earlier this year.
With the launch of the Grayscale Avalanche Trust, the asset manager now offers more than 20 crypto investment products.
Earlier this month, the asset manager launched the Grayscale Sui Trust, which solely focuses on the Sui protocol's SUI token. The firm also introduced a crypto fund for MakerDAO’s MKR. This comes a few months after Grayscale launched two trusts investing in Near (NEAR) and Stacks (STX).
While commenting on the Grayscale Avalanche Trust launch, Grayscale’s head of product and research, Rayhaneh Sharif-Askary, said,
“Through its key strategic partnerships and unique, multi-chain structure, Avalanche is playing a pivotal role in the advancement of RWA tokenization.”
Avalanche’s AVAX token is the best performer amongst the top 20 cryptocurrencies by market cap, up 10% in the last 24 hours.
