Solana Trust by Grayscale Investments Launches With $9.5M Under Management

Grayscale Investments — the firm behind the world's biggest closed-end Bitcoin BTC/USD fund Grayscale Bitcoin Trust GBTC — launched a Solana SOL/USD fund with $9.5 million of assets under management.

What Happened: Grayscale Investments launched its Solana fund this morning, according to a Tuesday Decrypt report. The firm's CEO Michael Sonnenshein said that the company saw growing interest among its clients to gain exposure to different types of digital assets.

The report follows Grayscale Investments launching funds providing exposure to Basic Attention Token BAT/USD, Chainlink LINK/USD, Livepeer LPT/USD, Decentraland MANA/USD and Filecoin FIL/USD. Sonnenshein also highlighted the company's Decentraland trust saw a particularly "strong receptivity" from its clients.

See Also: SOLANA PRICE PREDICTIONS

The report follows blockchain data recently showing Solana has become the cryptocurrency with the highest total value of the staked assets. The value of the stacked SOL tokens exceeded $84 billion as of Nov. 23, about double that of the second-in-ranking Cardano ADA/USD.

SOL Price Action: Solana is trading at $211.85 after seeing its price increase by over 2.05% over the last 24 hours.

Image: Courtesy Solana