Grayscale unveils investment trust for Avalanche’s AVAX token
Quick Take
- Grayscale Investments has launched a new investment trust focused on the AVAX token.
- The Grayscale Avalanche Trust aims to provide accredited investors with exposure to the cryptocurrency.
Grayscale Investments has expanded its portfolio of crypto investment products and launched the Grayscale Avalanche Trust. This new investment vehicle aims to offer accredited investors exposure to AVAX, the native token of Avalanche's blockchain network.
The trust, now open for daily subscriptions, operates similarly to Grayscale’s existing single-asset investment products, focusing exclusively on AVAX, the firm said in a press release shared with The Block.
“The launch of Grayscale Avalanche Trust highlights Grayscale’s ongoing commitment to providing investors with innovative opportunities to access exciting developments in the crypto ecosystem,” stated Grayscale’s head of product and research, Rayhaneh Sharif-Askary. “Through its key strategic partnerships and unique, multi-chain structure, Avalanche is playing a pivotal role in the advancement of RWA tokenization.”
Grayscale manages a series of investment trusts that provide exposure to various cryptocurrencies, including Bitcoin, Ethereum, Solana, Litecoin, Zcash, Chainlink, and Decentraland. Investors purchase shares of the trust, which then invests in the underlying cryptocurrency.
Earlier this month, Grayscale extended its product line by introducing two new trusts: one investing in Bittensor and another in Sui. The firm expanded its portfolio in May by launching trusts for Near Protocol and Stacks.
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