Author: Alex O’Donnell, CoinTelegraph; Translated by: Wuzhu, Golden Finance
Asset management firm Grayscale Investments has launched a new investment fund for Avalanche’s native token AVAX, according to an announcement on August 22.
Grayscale said the Grayscale Avalanche Trust “provides investors with exposure to Avalanche (AVAX), a triple-chain smart contract platform designed to simultaneously optimize scalability, network security, and decentralization.”
Avalanche is a layer 1 blockchain network focused on facilitating the tokenization of real-world assets (RWAs), which involves converting tangible assets such as real estate, commodities, or artworks into digital on-chain tokens. On August 22, Franklin Templeton expanded its blockchain-integrated money market fund to Avalanche.
Grayscale’s Avalanche Trust allows investors to participate in Avalanche’s “RWA tokenization advancement,” including “through its key strategic partnerships and unique multi-chain structure,” Rayhaneh Sharif-Askary, head of product and research at Grayscale, said in a statement.
Grayscale has more than 20 investment products. Source: Grayscale
The fund, which is not exchange-traded and is open only to accredited investors, is a new addition to Grayscale’s portfolio of more than 20 crypto investment products. On August 13, Grayscale launched a trust fund to invest in MakerDAO’s MKR token. On August 7, Grayscale launched two other trust funds to invest in Bittensor and Sui’s native protocol tokens.
Grayscale is the world’s largest cryptocurrency fund manager, with more than $25 billion in assets under management. The company is best known for its Bitcoin and Ethereum exchange-traded funds (ETFs), including the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE).
Grayscale also operates private single-asset funds for other protocol tokens, such as Basic Attention Token (BAT) and Chainlink.
In an Aug. 12 webinar, Grayscale’s global head of ETFs, Dave LaValle, predicted that the cryptocurrency ETF market will expand to include new types of digital assets and diversified crypto indexes.
“We’re going to see more single-asset products and certainly some index-based and diversified products,” LaValle said.
