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.
Follow ForkLog news on Telegram: ForkLog Feed — the full feed of news, ForkLog — the most important news, infographics and opinions.