Grayscale, a leading cryptocurrency
asset manager, announced on August 22, 2024 that it launched a new investment
product called the Grayscale Avalanche Trust.
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This trust invests in the AVAX token,
which is the native token of the Avalanche blockchain, known for its high-speed
and scalable transactions.
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The introduction of this trust is part
of Grayscale’s strategy to provide investors with diverse exposure to the
crypto ecosystem.
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The Grayscale Avalanche Trust offers
investors exposure to the AVAX token, which is used to pay transaction fees and
secure the Avalanche blockchain.
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The AVAX token was trading at around
$23 at the time of the announcement.
