HomeCryptocurrencyGrayscale launched Solana Trust

Grayscale launched Solana Trust

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Solana

The world’s largest digital asset management company Grayscale has announced the launch of a new investment product Grayscale , offering institutional investors indirect access to the Solana (SOL) cryptocurrency

This product is the 16th in the line of the company’s investment proposals. The trust will provide an opportunity to work only with SOL and its shares will be traded on the secondary market.

Commenting on the launch of the product, Grayscale CEO Michael Sonnenshein noted that the appearance of this offer is due to the growing interest in Solana:

“Many investors want to invest in Solana. This is a more economical compared to . The network already has more than 500 decentralized applications and about 1.2 million monthly active users. We assume that the project has significant potential for growth and its results are already impressive.”

This year, SOL has become one of the most profitable cryptocurrencies, soaring by more than 14,000% (at the beginning of the year, the rate was about $ 1.5). Now Solana is among the top 5 cryptocurrencies in terms of market capitalization with an indicator of more than $ 60 billion.

During this year, the problems of scaling the Ethereum network and high transaction fees pushed retail investors to switch to alternative first-level blockchains, such as Binance Smart Chain, Fantom, Avalanche and Solana.

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DeFi and the sector in the Solana network show impressive results. For example, assets worth about $14.7 billion are blocked in DeFi applications. However, the project has its own problems. In September, the Solana network stopped working for 18 hours due to problems with managing transaction congestion. Some critics of Solana believe that its is more centralized than that of Ethereum or Bitcoin.

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