Cryptocurrency asset management firm Grayscale introduced a new single-asset investment fund named Grayscale Avalanche Trust. This fund, offered through private placement, is now accessible to eligible accredited investors.
The Grayscale Avalanche Trust allows investors to gain exposure to AVAX through a security, eliminating the need to directly buy, store, and safeguard AVAX. Shares in the trust, which are priced based on the AVAX market value, aim to track the market price of AVAX.
AVAX is a cryptocurrency utilized within the operations of the peer-to-peer Avalanche Network, a decentralized system of computers operating under cryptographic protocols. This network facilitates the exchange of value tokens, known as AVAX, which are documented on a public ledgerâblockchain.
At present, the Grayscale Avalanche Trust operates with no performance fee, while the management fee is set at 2.50%. The Net Asset Value (NAV) per share is $11.75, with a one-day NAV change of 4.07%. The total assets under management (AUM) amount to $260,832.18, and the AVAX per share is 0.49996585.
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
â Grayscale (@Grayscale) August 22, 2024
Grayscale Expands Crypto Investment Portfolio With New Trusts For Bittensor And Sui Network
The company provides investors with access to the digital economy through a range of innovative investment products. At present, it offers more than twenty cryptocurrency investment products. The firm manages several investment trusts that offer exposure to various cryptocurrencies, including Bitcoin, Ethereum, Solana, Litecoin, Zcash, Chainlink, and Decentraland. Investors buy shares in these trusts, which then invest in the corresponding cryptocurrencies.
Recently, Grayscale has introduced new investment products, including the Grayscale Bittensor Trust and the Grayscale Sui Trust, which focus exclusively on Bittensor (TAO) and Sui Network (SUI), respectively. Additionally, in May, the company expanded its offerings by launching trusts for Near Protocol and Stacks.
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