Grayscale launches Solana-based trust

The digital asset management company Grayscale Investments announced the launch of a trust to invest in the native token of the Solana network.

“We are attracting assets for the trust through regular private placements, enabling investors to acquire the asset at net asset value,” the company said.

The trust uses the CoinDesk SLX index to determine the daily value of the asset. The annual fee for the service will be 2.5% with no upfront charges.

The company intends to bring the Solana trust’s securities to the secondary market, similar to the Bitcoin-based fund, but provides no guarantees, citing possible prohibitions from regulators.

“Investors should be prepared to bear the risks of holding the shares indefinitely,” added Grayscale Investments.

The investment product will become the sixteenth in the company’s lineup. According to the latest report, assets under management stand at $52.7 billion.

Earlier, Grayscale Investments included Solana and the native token of the decentralized exchange Uniswap in the Digital Large Cap Fund.

In early November, the company filed an application to launch an exchange-traded fund (ETF) named Grayscale Future of Finance. Its composition will be formed by shares of blockchain-related companies.

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