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Grayscale Investments launched the solana trust. The company currently manages nearly 54 billion U.S. dollars in assets. The new trust, the company’s sixteenth encrypted investment product, can exclusively invest in solana (SOL). Grayscale’s CEO mentioned that investors are gradually “diversifying their exposure on the other side of digital assets such as Bitcoin and Ethereum.”

Grayscale adds Solana to its list of investment products

Grayscale Investments, the world’s largest digital currency plus management company, announced the launch of Grayscale Solana Trust on Tuesday. The new trust is able to “individually and passively” invest in the native token solana (SOL) of the Solana network, which is Grayscale’s 16th crypto investment product.

The announcement stated:

“The trust is currently open to eligible individuals and institutions to authorize investors to subscribe daily. The trust functions as a single-asset investment trust with different gray levels.”

Grayscale’s different single asset investment products provide Bitcoin (BTC), Basic Attention Token (BAT), Bitcoin Currency (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 provides a wide range of products: Grayscale Digital Company Funds and Grayscale Definition Funds. The previous version covered more than 70% of the cryptocurrency market through capitalization. The latter provides access to various industry-leading defi (decentralized finance) protocols.

Grayscale CEO Archangel Sonnenshein has commented in the past eight years:

“We are at the forefront of the idea of ​​accepting and adopting cryptocurrencies, and have gradually realized that investors are diversifying their exposure to digital assets such as Bitcoin and Ethereum.”

The company announced on Tuesday that its total assets under management (AUM) was $53.5 billion. Its most popular product is the Bitcoin Trust (GBTC) with over US$37.2 billion in assets under management, followed by the Ethereum Trust (ETHE) with approximately US$14.2 billion in assets.