TL;DR
- Grayscale Investments launches the Near Trust and Stacks Trust funds to provide investors access to specific parts of the crypto ecosystem.
- The new funds aim to address the demand for diversified exposure and are designed to provide exclusive access to NEAR and STX tokens.
- The funds are available for daily subscription for both individual accredited investors and institutions.
The prestigious crypto asset manager, Grayscale Investments, has announced the launch of two new cryptocurrency investment funds: Near Trust and Stacks Trust. These products offer investors the opportunity to access specific parts of the crypto ecosystem, responding to the growing demand for diversified exposure.
With the aim of addressing the needs of investors looking to diversify their portfolios with different assets, Grayscale has designed these new funds to provide exclusive access to the underlying tokens of the Near Protocol (NEAR) and Stacks (STX), respectively. The asset manager remains at the forefront of innovation and seeks to offer solutions that address scalability challenges in blockchain, thereby driving widespread adoption of the crypto market.
We are proud to announce the creation of two new single-asset crypto investment trusts, available through private placement: Grayscale® Near Trust ($NEAR) and Grayscale® Stacks Trust ($STX).
Read more in our press release: https://t.co/Ve8RCQyKmh
1/3 pic.twitter.com/3S5yMAj5fi
— Grayscale (@Grayscale) May 23, 2024
The Near Trust and Stacks Trust funds are available for daily subscription for both individual accredited investors and institutions, providing a wide range of investors the opportunity to utilize these products and benefit from Grayscale’s experience and expertise in asset management.
Grayscale Seeks New Tools for its Clients
It is important to note that while Grayscale intends to list the shares of these new funds on a secondary market, there is no guarantee of success in this regard. However, the firm has demonstrated its strong leadership in the crypto asset market, with a solid reputation and experience in investment management in this space.
According to data from Coinmarketcap, Near Protocol (NEAR) is currently trading at $7.56, with a nearly 5% decrease in the last 24 hours and a market capitalization of $8.5 billion. On the other hand, Stacks (STX) is being traded at $2 after a 2.9% decrease in the last trading day, with its market capitalization standing at just over $2.92 billion.
Founded in 2013, Grayscale Investments has become a reference point in crypto asset management, offering a wide range of investment products that allow investors to access the digital economy in a diversified and thematic manner. Investors, advisors, and allocators rely on the firm to provide market exposure safely and transparently.
