The world's largest digital asset management firm is launching two new crypto mutual funds for Ethereum (ETH) rival Near Protocol (NEAR) and Bitcoin (BTC) Layer 2 project Stacks (STX).
Grayscale Investments said in a statement that the Grayscale Nia Trust and Grayscale Stacks Trust are now open for daily subscriptions from qualified retail and institutional investors.
The new Near and Stacks mutual funds further expand Grayscale's growing catalog of crypto-asset product-focused investment vehicles.
“The trust will function like Grayscale’s existing suite of single-asset mutual funds and will be one of the first investment products to invest exclusively in the underlying tokens of Near Protocol (NEAR) and Stacks (STX), respectively.”
Reyhaneh Sharif Askari, head of product and research at Grayscale, said the asset management giant is introducing new mutual funds amid continued demand for diversified crypto investments.
“Grayscale remains focused on launching new products that give investors access to emerging and evolving parts of the crypto ecosystem.
By creating a unique solution that addresses blockchain scalability challenges, Stacks and Near are poised to foster wider adoption and ultimately help move the cryptocurrency ecosystem forward.”
NEAR is currently trading at $7.65 and is down 4.67% over the past 24 hours, while STX is trading at $2.02 and is down 3.09%.
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