The Grayscale Avalanche Trust offers investors exposure to the AVAX token, used to pay transaction fees and secure the high-speed, ultra-scalable blockchain.Cryptocurrency asset manager and exchange-traded funds provider Grayscale Investments said it added an Avalanche blockchain token trust to the slew of new products the firm has introduced in recent weeks.
The Grayscale Avalanche Trust, announced Thursday, offers investors exposure to the AVAX token, used to pay transaction fees and secure the high-speed, ultra-scalable competitor to Ethereum. Interest in publicly tradeable products linked to cryptocurrencies and the surrounding ecosystem has been growing since January, when the Securities and Exchange Commission approved the first bitcoinETFs for U.S. trading. Grayscale, the remaining jewel in Digital Currency Group crown, has brought digital assets to conventional investors for a decade through its bitcoin trust, which became one of the first ETFs after approval.
Grayscale, whose new CEO, former Goldman Sachs banker Peter Mintzberg, took over a week ago, now offers more than 20 crypto investment products.