Asset management firm Grayscale on Thursday announced two new mutual funds that will offer certain investors exposure to the Bitcoin Layer 2 stack and Nia Protocol, respectively.
The trust is exclusive to accredited investors and functions much like other private placements offered by Grayscale. Among a myriad of services, the new trust joins cryptocurrency-only trusts such as Solana, Chainlink, and Decentraland.
“As demand for exposure to diverse crypto assets continues, Grayscale remains focused on launching new products that give investors access to emerging and evolving parts of the crypto ecosystem,” said Reyhaneh Sharif Askari, head of product and research at Grayscale. deciphering In a written statement.
As Bitcoin's Layer 2 network, Stacks brings smart contract capabilities to Bitcoin and enables the development of decentralized financial applications on top of the cryptocurrency's oldest network. Start deployment Nakamoto Upgrade Last month, the network received a recent boost in profile due to the popularity of Bitcoin protocols Ordinals and Runes.
“The Stax ecosystem is seeing strong demand growth from institutional investors across the board,” said Kyle Ellicott, Stax investor relations director. Decrypt. “We are seeing similar demand in the larger Bitcoin ecosystem as that large gap continues to close in terms of unlocking and increasing Bitcoin liquidity. [more] It can be used.
Grayscale describes the private placement as the first step in a product's lifecycle, with ETF listing as the ultimate goal. WebsiteSo far, Grayscale's Bitcoin Trust is the only product to achieve such status, having been approved among other Spot Bitcoin ETF applications in January, but the company is The company is also seeking similar SEC approval.
NEAR protocolwas launched in 2020 and has established itself as a fast blockchain focused on decentralized cloud computing. Wednesday's project: Announced announced the launch of a new research and development lab specializing in artificial intelligence (AI).
Noting the innovative nature of both projects, Sharif Askari said, “By creating unique solutions that address blockchain scalability challenges, Stax and Nia will help drive greater adoption and ultimately We are ready to contribute to the advancement of the cryptocurrency ecosystem.”
Editor: Andrew Hayward
