The Stellar Lumen Trust, which is the first single asset
The Stellar Lumen Trust, which is the first single asset investment product, has recently been launched by Grayscale. This gives exposure to Lumen, the digital asset of the stellar blockchain. The announcement was made public through a tweet and a press release on the 17th of January by Grayscale which revealed the launch of the Grayscale Stellar Lumen Trust. This was where investors would now be given opportunities to gain exposure to the price movement of XLM through a traditional investment vehicle.
Grayscale, headquartered in the USA, is a subsidiary of the digital currency group that is specialized in building, buying and investing in more than 130 Bitcoin and blockchain firms in the world. It is also known as the world’s largest digital currency manager with a proven record over time. Stellar is a platform that serves as a network for financial institutions, payment systems and people around the world. Lumen is the native asset that enables the users to conduct transactions.
The managing director of Grayscale Michael Sonnenschein, in the press release, stated that the firm is pleased to bring grayscale stellar lumens trust to the market and the firm will continue to provide investors access to established blockchain projects with substantial traction and resources. Moreover, he said, that the company had already set up a leadership role in the in the emerging market of the industry. He also hoped that the launch of this product will expand the coverage of the digital asset in the universe.
This is the ninth trust to be launched by Grayscale, and has launched Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), XRP (XRP) and Zcash (ZEC). The firm has also announced that they will be changing the names of its single asset products, and the ones which provide exposure to the previously listed trust are now named:
Grayscale Bitcoin Trust™, Grayscale Bitcoin Cash Trust™, Grayscale Ethereum Trust™, Grayscale Ethereum Classic Trust™, Grayscale, Horizen Trust™, Grayscale Litecoin Trust™, Grayscale Stellar Lumens Trust™, Grayscale XRP Trust™, Grayscale Zcash Trust™
The products of Grayscale are available for both institutional investors as well as accredited individual investors.