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Grayscale Investments, a leading crypto asset manager with over 20 crypto investment products, has officially introduced the Grayscale Avalanche (AVAX) Trust to the public.
This move highlights Grayscale’s dedication to broadening its range of cryptocurrency investment offerings for investors. This new investment trust comes shortly after Grayscale introduced MakerDAO to the public.
Avalanche Trust Aims to Provide Exposure to Other Crypto Assets
In a detailed report, Grayscale Investments explained that the trust works like the firm’s other investment products but only focuses on AVAX, Avalanche’s native token. In addition, the trust can be shared daily.
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Rayhaneh Sharif-Askary, Grayscale’s head of Product and Research, said in an interview that this investment trust is designed to allow accredited investors to acquire AVAX tokens without hassle.
Through this investment trust, investors can benefit from diversifying their portfolios and gaining exposure to a variety of cryptocurrencies. It can also help spread risk and potentially capture the growth of different digital assets in the crypto market.
Facts about Grayscale’s Avalanche Network
Avalanche operates as a Layer-1 blockchain network with three chains. It is known for its high-performance consensus protocol called Avalanche Consensus. This consensus enables high-throughput, low-cost transactions and efficient decentralized applications.
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With its unique multi-chain setup, the platform has significantly contributed to advancing Real-World Assets (RWA) tokenization through collaborations with prominent firms. Furthermore, the token AVAX has gained significant adoption by several investors and trading platforms, including Kelexo lending platform.
Market watchers are bullish on the digital token as its price has shown moderate uptrend. In April, CoinRiseMedia reported that market experts are predicting the crypto asset to hit a peak price of about $61.07 by the end of 2024. The outlook for the upcoming years is even more optimistic. Currently, AVAX token is trading at $24.68, up by 7.20% in the last 24 hours as per CoinMarketCap data.
Grayscale Strides in the Crypto Space
Grayscale has been making innovative moves in the crypto space, particularly with its various cryptocurrency investment trusts that allow investors to gain exposure to digital assets through traditional investment vehicles.
These products, including Grayscale Bitcoin Trust and Grayscale Ethereum Trust, have provided institutional and retail investors with a regulated way to invest in cryptocurrencies.
In March, the prominent investment firm unveiled Grayscale Dynamic Income Fund (GDIC). This new offering is aimed at sophisticated investors looking to tap into the income potential of staking cryptocurrency tokens.
