Asset management company Grayscale Investments has announced the launch of a new investment trust, the funds of which will be invested in the Solana cryptocurrency.
According to a statement companies, the fund will be passively managed. That is, fund managers will not actively open and close positions to increase profits – funds will be invested in SOL when they enter the fund, and positions will be closed only when money is withdrawn from the fund. Grayscale CEO Michael Sonnenshein said:
“For the past eight years, Grayscale has been a leader in offering access to the emerging cryptocurrency ecosystem. We’ve watched the adoption of digital assets in the front row and increasingly see investors diversifying their portfolios with investments in cryptocurrencies such as BTC and ETH. Our portfolio of cryptocurrency products will continue to evolve with this remarkable asset class as we remain true to our mission of providing investment opportunities in the digital economy. ”
Currently, the list of Grayscale investment products includes 13 “mono-funds” – funds with investments in one asset. The Solana Trust will become 14 such product.
The Solana project has received a significant boost in recent months. Back in August, the SOL coin was trading at $ 35, in September its rate reached $ 170, and now the cryptocurrency is trading at $ 217. As a reminder, in September the Solana network was idle for more than 17 hours due to a DDoS attack. But, according to Anatoly Yakovenko, CEO of Solana Labs, this failure is not too important.
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