New York, Nov. 30, 2021 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital forex asset supervisor, right this moment introduced the launch of Grayscale® Solana Trust — the sixteenth product in Grayscale’s suite of funding choices.
The Belief is solely and passively invested in Solana (SOL), the native token of the Solana community, a sensible contract platform first conceived in a 2017 whitepaper. Just like the Ethereum community, the Solana community is one among quite a lot of initiatives supposed to broaden blockchain use past only a peer-to-peer cash system. The Solana protocol launched the Proof-of-Historical past (PoH) consensus mechanism as a substitute for pure Proof-of-Stake (PoS) and Proof-of-Work (PoW) blockchains.
“For the final eight years, Grayscale has been on the forefront of providing buyers environment friendly publicity to the ever-evolving digital forex ecosystem,” stated Grayscale CEO Michael Sonnenshein. “Now we have had a entrance row seat to the mainstream acceptance and adoption of crypto, and more and more discover that buyers are diversifying their publicity past digital property like Bitcoin and Ethereum. Our household of Grayscale merchandise will proceed to broaden alongside this thrilling asset class, as we stay dedicated to providing buyers alternatives to entry the digital economic system.”
The Belief is now open for every day subscription by eligible particular person and institutional accredited buyers. The Belief capabilities the identical as Grayscale’s different single-asset funding trusts.
Grayscale’s different single-asset funding merchandise present publicity to Bitcoin (BTC), Primary Consideration Token (BAT), Bitcoin Money (BCH), Chainlink (LINK), Decentraland (MANA), Ethereum (ETH), Ethereum Basic (ETC), Filecoin (FIL), Litecoin (LTC), Livepeer (LPT), Stellar Lumens (XLM), Zcash (ZEC), and Horizen (ZEN). Grayscale additionally gives eligible buyers thematic publicity to digital property by its diversified merchandise, Grayscale Digital Giant Cap Fund, which gives protection of the higher 70% of the digital forex market by market capitalization, and Grayscale DeFi Fund, which gives publicity to a number of industry-leading DeFi protocols by a market-capitalization weighted portfolio designed to trace the CoinDesk DeFi Index.
Grayscale’s funding merchandise can be found to institutional and particular person accredited buyers by their respective periodic personal placements.
Sure Grayscale merchandise are publicly-quoted on OTC Markets’ OTCQX® Finest Market.¹ Shares of those merchandise have develop into unrestricted in accordance with the principles and laws of the SEC and could also be purchased and offered all through the day by way of any brokerage account. These merchandise embody:
Grayscale® Bitcoin Money Belief (OTCQX: BCHG)
Grayscale® Bitcoin Belief (OTCQX: GBTC)
Grayscale® Digital Giant Cap Fund (OTCQX: GDLC)
Grayscale® Ethereum Basic Belief (OTCQX: ETCG)
Grayscale® Ethereum Belief (OTCQX: ETHE)
Grayscale® Horizen Belief (OTCQX: HZEN)
Grayscale® Litecoin Belief (OTCQX: LTCN)
Grayscale® Stellar Lumens Belief (OTCQX: GXLM)
Grayscale® Zcash Belief (OTCQX: ZCSH)
Grayscale might try and have the shares of latest merchandise quoted on a secondary market. Though the shares of sure Grayscale merchandise have been authorised for buying and selling on a secondary market, resembling OTCQX, buyers in a brand new product mustn’t assume that the shares will ever acquire such an approval due to questions the SEC and/or FINRA might have relating to the standing of the product’s underlying digital property underneath the federal securities legal guidelines.
This press launch is just not a suggestion to promote or the solicitation of a suggestion to purchase any safety in any jurisdiction the place such a suggestion or solicitation could be unlawful, nor shall there be any sale of any safety in any jurisdiction through which such provide, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of that jurisdiction.
¹Each product gives a personal placement to accredited buyers. The funding goal of every product is for its Shares (based mostly on digital property per Share) to mirror the worth of digital property held by such product, decided by reference to the relevant TradeBlock index worth or reference fee, much less such product’s bills and different liabilities.
Thus far, sure merchandise haven’t met their funding goal and the Shares of such merchandise quoted on OTCQX haven’t mirrored the worth of the digital property held by such merchandise, much less such merchandise’ bills and different liabilities, however have as a substitute traded at each premiums and reductions to such worth, which at occasions have been substantial.
About Grayscale Investments®
Based in 2013, Grayscale Investments is the world’s largest digital forex asset supervisor, with greater than $50.7B in property underneath administration as of November 26, 2021. By its household of funding merchandise, Grayscale gives entry and publicity to the digital forex asset class within the type of a safety with out the challenges of shopping for, storing, and safekeeping digital currencies straight. With a confirmed observe document and unequalled expertise, Grayscale’s merchandise function inside current regulatory frameworks, creating safe and compliant publicity for buyers. Grayscale merchandise are distributed by Genesis International Buying and selling, Inc. (Member FINRA/SIPC, MSRB Registered). For extra data, please go to grayscale.com and comply with @Grayscale.