{"id":16326,"date":"2024-08-22T17:53:39","date_gmt":"2024-08-22T14:53:39","guid":{"rendered":"https:\/\/forklog.com\/en\/grayscale-to-launch-avalanche-based-trust\/"},"modified":"2024-08-22T17:53:39","modified_gmt":"2024-08-22T14:53:39","slug":"grayscale-to-launch-avalanche-based-trust","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/grayscale-to-launch-avalanche-based-trust\/","title":{"rendered":"Grayscale to Launch Avalanche-Based Trust"},"content":{"rendered":"<p>Digital asset manager Grayscale Investments has announced the launch of a closed-end fund based on Avalanche (AVAX).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We are proud to announce the creation of a new single-asset crypto investment fund, available through private placement: Grayscale Avalanche Trust <a href=\"https:\/\/twitter.com\/search?q=%24AVAX&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$AVAX<\/a>.<\/p>\n<p>Available to eligible accredited investors.<\/p>\n<p>Read the press release: <a href=\"https:\/\/t.co\/XwKfjPD9Tw\">https:\/\/t.co\/XwKfjPD9Tw<\/a> <a href=\"https:\/\/t.co\/HdzlNfwkQ8\">pic.twitter.com\/HdzlNfwkQ8<\/a><\/p>\n<p>\u2014 Grayscale (@Grayscale) <a href=\"https:\/\/twitter.com\/Grayscale\/status\/1826605888196804973?ref_src=twsrc%5Etfw\">August 22, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Grayscale noted that Avalanche plays a key role in advancing the tokenization of RWA.<\/p>\n<p>The product is intended for individual and institutional accredited investors. It operates similarly to other trusts, requiring an application to the company for subscription\/redemption.<\/p>\n<p>Grayscale has pledged to make efforts to list the fund on the secondary market. However, the company does not guarantee a positive outcome.<\/p>\n<p>The new instrument will continue the expansion of the product line. Previously, it included trusts based on MakerDAO, <a href=\"https:\/\/www.globenewswire.com\/en\/news-release\/2024\/08\/07\/2925970\/0\/en\/Grayscale-Investments-Launches-Two-New-Product-Offerings-Grayscale-Bittensor-Trust-and-Grayscale-Sui-Trust.html\">Bittensor and Sui<\/a>, as well as token baskets focused on AI.<\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>, Avalanche&#8217;s market capitalization is $10.07 billion, ranking it 14th among cryptocurrencies.<\/p>\n<p>On August 22, it was also reported that <a href=\"https:\/\/decrypt.co\/245839\/franklin-templeton-fobxx-blockchain-fund-avalanche\">Franklin Templeton launched<\/a> a tokenized U.S. Government Money Fund (FOBXX) on the Avalanche blockchain. This was reported by <a href=\"https:\/\/decrypt.co\/245839\/franklin-templeton-fobxx-blockchain-fund-avalanche\">Decrypt<\/a>.<\/p>\n<p>Earlier, the asset manager and issuer of spot Bitcoin and Ethereum <span data-descr=\"exchange-traded fund\" class=\"old_tooltip\">ETF<\/span> launched a structure on the Arbitrum network. It is also available on Stellar and Polygon.<\/p>\n<p>The initiative aims to accelerate the integration of <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span> into DeFi.\u00a0\u00a0<\/p>\n<p>In 2021, FOBXX became the first U.S.-registered fund to use a public blockchain for transaction processing and share ownership accounting.<\/p>\n<p>According to <a href=\"https:\/\/app.rwa.xyz\/treasuries\">rwa.xyz<\/a>, the <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span> of the structure is $424.86 million, ranking second after BlackRock USD Institutional Digital Liquidity (BUIDL) with $502.7 million.<\/p>\n<p>Franklin Templeton has filed an S-1 application for a &#8220;dual&#8221; crypto-ETF. At the end of July, Hashdex submitted a similar document.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital asset manager Grayscale Investments has announced the launch of a closed-end fund based on Avalanche (AVAX). We are proud to announce the creation of a new single-asset crypto investment fund, available through private placement: Grayscale Avalanche Trust $AVAX. Available to eligible accredited investors. Read the press release: https:\/\/t.co\/XwKfjPD9Tw pic.twitter.com\/HdzlNfwkQ8 \u2014 Grayscale (@Grayscale) August 22, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,1383,1285,943],"class_list":["post-16326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-franklin-templeton","tag-funds","tag-grayscale-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16326"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16326\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16325"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}