Grayscales now presents 22 digital asset trusts, together with 18 single-asset funds.
Grayscale Investments, a high digital asset funding supervisor boasting $13.6 billion in belongings beneath administration, is constant its spree of transport new funds.
On Aug. 22, Grayscale unveiled its Avalanche belief, an exchange-traded product (ETP) investing in AVAX, the native token of the Avalanche ecosystem.
Accredited buyers can now buy shares within the fund to achieve publicity to AVAX. Grayscale presents 22 ETPs investing in cryptocurrencies.
“Via its key strategic partnerships and distinctive, multi-chain construction, Avalanche is taking part in a pivotal function within the development of RWA tokenization,” stated Rayhaneh Sharif-Askary, Grayscale’s head of product and analysis.
The price of AVAX surged in response, with bulls pushing the token up 6% in one hour for a daily gain of 9.1%, according to The Defiant’s crypto price feeds.
AVAX has now rebounded 21.3% over the past fortnight but remains down 17% in 30 days due to the recent flash crash triggered by Financial institution of Japan mountain climbing rates of interest in early August.
Avalanche has enjoyed a recent spate of adoption from prominent mainstream institutions. Last month, California’s Department of Motor Vehicles began digitizing 42 million vehicle titles onto the Avalanche network. Earlier today, Franklin Templeton deployed its tokenized treasury fund on Avalanche, marking the fund’s third network deployment.
Grayscale now offers 22 crypto trusts, 18 of which are single-asset funds. Last week, Grayscale debuted its MakerDAO Belief, following the launch of funds investing in Bittensor and Sui on Aug. 7.
The Grayscale Avalanche Belief is the primary belief to launch beneath the oversight of Grayscale’s new CEO, Peter Mintzberg.
