The world’s largest digital asset manager Greyscale has announced its sixteenth fund in the shape of Solana, the superfast layer one blockchain.
According to a press release published today, the new trust will invest solely in SOL, the native token of the Solana network.
The CEO of Greyscale, Michael Sonnenshein said of this company’s products:
“For the last eight years, Grayscale has been at the forefront of offering investors efficient exposure to the ever-evolving digital currency ecosystem. We have had a front row seat to the mainstream acceptance and adoption of crypto, and increasingly find that investors are diversifying their exposure beyond digital assets like Bitcoin and Ethereum. Our family of Grayscale products will continue to expand alongside this exciting asset class, as we remain committed to offering investors opportunities to access the digital economy.”
Greyscale’s other single-asset investment products include Bitcoin, Basic Attention Token, Bitcoin Cash, Chainlink, Decentraland, Ethereum, Ethereum Classic, Filecoin, Litecoin, Livepeer, Stellar Lumens, Zcash, and Horizen.
The most popular of the funds are the Bitcoin and Ethereum trusts, although the Greyscale Digital Large Cap, and the DeFi Index are also the most subscribed funds.
The most recent addition to Greyscales funds will likely attract a lot of interest and investment, given how Solana and its ecosystem have, in a comparatively short amount of time, become a viable alternative, or at the very least, a strong competitor to Ethereum.
It could certainly be argued that SOL can keep pace with ETHER’s growth over the rest of this bull market, and given their respective market caps, there is a high probability that SOL will outstrip the gains that the number 2 cryptocurrency can make, at least into the medium term.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.