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Grayscale adds Solana to its growing list of digital asset trusts

Sean Dickens
·2-min read

Leading digital currency asset manager Grayscale has today unveiled the latest addition to its array of investment products – the Grayscale Solana Trust.

The native Solana trust becomes the fourteenth product offered by Grayscale in a single-asset trust and the sixteenth overall across its entire investment offerings.

 

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The asset manager provides an array of trusts and funds for investors that enable exposure to a crypto asset without ownership of the underlying asset. The most subscribed single-asset trusts include its Bitcoin (BTC) and Ethereum (ETH) trusts alongside the popular ‘Grayscale Digital Large Cap (GDLC)‘ and ‘DeFi Index‘ funds.

Solana was recently added to the GDLC fund alongside UniSwap. However, the Grayscale Solana Trust marks the first single-sided exposure to the asset via Grayscale as it is “solely and passively invested in Solana (SOL)”.

Grayscale’s other trusts provide exposure to a range of assets including Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA) Filecoin (FIL) and Litecoin (LTC).

The crypto-native fund has remained the most popular digital asset manager thanks to its vast array of investment products and continued impressive growth, recently surpassing an impressive $10bn valuation and also reaching $60bn in assets under management (AUM) for the first time earlier this month.

Additionally, the asset manager is driving innovation forward thanks to a glowing recommendation of the ever-expanding ‘metaverse’ within the industry.

“For the last eight years, Grayscale has been at the forefront of offering investors efficient exposure to the ever-evolving digital currency ecosystem,” said Grayscale CEO Michael Sonnenshein.

“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.”