Grayscale launches Stellar Lumens investment trust
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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.
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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