Osprey Funds launches Polygon-based trust

Osprey Funds launches a Polygon-based trust.

The digital assets manager Osprey Funds launched a Polygon (MATIC)-based trust, according to a press release.

The new financial instrument is available to accredited investors in the U.S. market. The minimum investment threshold is $10,000.

According to company representatives, this is the first such product in the United States based on Polygon. The trust’s securities will appear «soon» on the OTCQX, over-the-counter market, operated by OTC Markets Group.

There will be no 2.5% management fee charged to investors until January 2023.

Polygon (MATIC) has a market capitalization of $7.6 billion. The asset sits at 23rd on CoinGecko’s ranking. Over the past 24 hours, MATIC declined 6.2% amid broad market declines.

Earlier in July, Osprey Funds filed with the SEC an application to register a Bitcoin trust.

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