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Grayscale, Crypto Giant Eyes Two Ethereum Rivals After Adding Support for Solana

The world’s largest digital asset manager in a recent announcement reveals the launch of a single-asset investment product exposing its holders to Solana (SOL). Then, also to show support for more Ethereum competitors.

Furthermore, During a press release, Grayscale announces the new Solana Trust. Notably, this will join its other 13 single-asset crypto investment products.

So, Grayscale explains.
“The Trust is solely and passively invested in Solana (SOL),..”
“the native token of the Solana network, a smart contract platform first conceived in a 2017 whitepaper…”
“Like the Ethereum network, the Solana network is one of a number of projects intended…”
“to expand blockchain use beyond just a peer-to-peer money system.”

More so, Grayscale says it’s now taking a close considering adding support for the smart contract platforms Terra (LUNA) and Avalanche (AVAX).

Both assets have had breakout years in terms of price and adoption, with LUNA rising from $0.66 at the start of 2021 to its current price of 58.66.

Just like SOL, AVAX from $3.37 on January 1st sits at current price of $120.70.

More so, Grayscale CEO Michael Sonnenshein states that investors are considering expanding their portfolios beyond the Bitcoin (BTC) and Ethereum (ETH) staples.

“For the last eight years, Grayscale has been at the forefront of offering…”
“investors efficient exposure to the ever-evolving digital currency ecosystem,”

“We have had a front-row seat to the mainstream acceptance and adoption of crypto…”
“and increasingly find that investors are diversifying…”
“their exposure beyond digital assets like Bitcoin and Ethereum.”

Notably, as per the announcement, the Grayscale Solana Trust is the sixteenth crypto investment product from Grayscale.

Some others include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Decentraland (MANA) and Filecoin (FIL).

Lastly, Grayscale also offers a Digital Large Cap Fund, which is an investment product that brings exposure to investors to the upper 70% of digital assets by market cap.

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