Grayscale launches Avalanche Trust offering Investors exposure to AVAX Token
The world’s largest crypto asset manager, Grayscale Investment, today launched Grayscale Avalanche Trust, a new investment fund for Avalanche’s native token, AVAX.
We are proud to announce the creation of a new single-asset crypto investment fund, available through private placement: Grayscale Avalanche Trust $AVAX.
Available to eligible accredited investors.
Read the press release: https://t.co/XwKfjPD9Tw pic.twitter.com/HdzlNfwkQ8
According to an announcement on Thursday, August 22, asset manager Grayscale Investments stated that through the creation and public launch of Grayscale Avalanche Trust, investors can learn more about Avalanche (AVAX), a three-chain smart contract platform that simultaneously prioritizes decentralization, network security, and scalability. Avalanche has helped in the wider adoption of real-world asset (RWA) tokenization through its strategic alliances with top firms.
The introduction of Grayscale Avalanche Trust demonstrates Grayscale's continued dedication to giving investors innovative opportunities to gain access to fascinating developments in the cryptocurrency space, according to Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale. Sharif-Askary further explained that Avalanche's unique multi-chain structure and vital strategic partnerships are helping to push RWA tokenization forward.
Eligible accredited investors can now subscribe to the Trust on a daily basis. The Trust invests exclusively in the token that powers the Avalanche network (AVAX), operating similarly to Grayscale's single-asset investment Trusts.
The news of this launch has created a positive market sentiment, which has been praised by the Avalanche community. Given that Avalanche hasn't performed up to par lately, this sentiment has led to a bullish twist for the coin. After the announcement, AVAX's price surged by roughly 3.96% to $24.42, and its trading volume increased by almost 15.77% to $347.65 million.
With more than $25 billion in assets under management, Grayscale, offering more than 20 crypto investment products, is the largest cryptocurrency fund manager in the world. It is most well-known for its exchange-traded funds (ETFs) for Bitcoin and Ether, such as Grayscale Ethereum Trust (ETHE) and Grayscale Bitcoin Trust (GBTC). In addition, the firm manages private single-asset funds for additional protocol tokens, including Chainlink and Basic Attention Token (BAT).
Earlier this month, Grayscale extended its cryptocurrency investment product line by introducing Grayscale Bittensor Trust, exclusively invested in TAO, and Grayscale Sui Trust, whose sole objective is to make investments in SUI. The firm also announced on July 31 the start of trading for the mini version of Grayscale BitcoinTrust (GBTC) following the approval from the U.S. Securities and Exchange Commission (SEC).
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