Grayscale launches Stellar Lumens investment trust

Institutional Investors • January 17, 2019, 10:12AM EST
The Block

Grayscale Investment, a cryptocurrency asset management firm, announced the launch of its Grayscale Stellar Lumens Trust on Thursday, which provides investors with exposure to Lumens (XLM), the native asset of the Stellar network.

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This investment product is the ninth single-asset product launched by Grayscale. The firm also sponsors products that provide exposure to bitcoin, bitcoin cash, ether, ethereum classic, horizen, litecoin, XRP, and zcash.

Stellar is a distributed remittance platform connecting financial institutions, payment systems, and individual users. Stellar's native asset, Lumens, enables users to move money quickly and reliably at little to no cost.

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Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

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