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Digital asset manager Grayscale Investments has announced its Grayscale Solana Trust on Tuesday. The firm’s sixteenth investment vehicle will be passively invested in Solana and is available to eligible individual and accredited institutional investors.
Solana has had massive year to date. From around $1.50 in January its price has exploded to over $215 at time of writing. Popularity of rival network Ethereum caused traffic and transaction costs (gas-fees) on there to skyrocket. As a result, Solana has emerged as a reliable and convenient alternative with much lower fees and traffic as of yet.
On October 2 of this year, Solana was already included in Grayscales Digital Large Cap fund.
Grayscale’s Solana Trust is similar to other investment opportunity the firm holds where it offers exposure to other digital assets such as Bitcoin, ether, bitcoin cash, Cardano, litecoin, and stellar lumens.
Grayscale is a subsidiary company of Digital Currency Group, which is the parent company of crypto news authority, Coindesk.