Grayscale Launches Solana Trust Following Investors ‘Appetite’

Grayscale Investments, the largest cryptocurrency fund in the world, announced a Solana trust, adding the growing cryptocurrency to its list of product offerings. They have shown great interest in Solana’s performance and see a near and long-term potential in it because of its capability for experimentation. In a public release, Grayscale Investments said they will be “enabling investors to gain exposure to SOL in the form of a security while avoiding the challenges of buying, storing, and safekeeping SOL directly.” This will require a $25,000 minimum investment, charging Grayscale’s standard 2.5% management fee. Grayscale CEO Michael Sonnenshein commented to Forbes: In many investors’ minds, there’s a continued appetite to invest in Solana, In some sense, it is a more cost-effective blockchain [than Ethereum], and today we are seeing over 500 decentralized apps and about 1.2 million monthly active users on the network. When you kind of take a step back, and you see how quickly it has been able to ramp up, it’s certainly pretty impressive. Regarding the investor’s appetite for Solana, FTX founder Sam Bankman-Fried is a strong supporter of the digital asset, giving a constant public endorsement that has become a key point of its current visibility. Bankman-Fried has shared his view on Solana being better than Ethereum given its lower fees and possibilities of use and recently clai...