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