US investment management firm Grayscale is launching a new investment fund based on the AVAX token of the Avalanche blockchain.
Grayscale Avalanche Trust, the new product from the American giant
After launching a series of cryptocurrency-related products, particularly in the artificial intelligence (AI) sector with the Grayscale Bittensor Trust and the layer 1 sector with the Grayscale Sui Trust, Grayscale adds a new product to its range: The Grayscale Avalanche Trust.
This fund is based on the native token of the Avalanche blockchain, AVAX. The Avalanche blockchain is called infrastructure, it acts as a foundation for networks or decentralized applications (dApps) seeking to rely on its technology. Halfway between a layer 0 solution and a layer 1 solution, the Avalanche network benefits from high scalability, in particular thanks to the technology it has developed, subnets.
💡Learn more – Avalanche (AVAX), building the Internet of Finance
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Building on the success of its previous products, the Grayscale Avalanche Trust is therefore added to the list of 22 products linked to the cryptocurrency sector offered by Grayscale.The fund, which launched late last week, now has $300,000 in assets under management. Fees for the product are 2.5% for Grayscale clients.
Through its key strategic partnerships and unique multi-chain structure, Avalanche plays a pivotal role in advancing RWA tokenization
In parallel with the fund launched by Grayscale, The Avalanche network will soon be used to tokenize 42 million car registration cards in California for the Department of Motor Vehicles (DMV). This will reduce the vehicle title transfer process from 2 weeks to just a few minutes.
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Additionally, Franklin Templeton, the first fund manager to use a public blockchain to offer its products, has just expanded its availability to the Avalanche network.
Meanwhile, the AVAX token is trading at $26, which is a 23% increase over the past 15 days. The resilience of the AVAX token price in the face of recent market conditions can be partially explained by the positive news for the blockchain.
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Source: Grayscale Official Website
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Passionate about the blockchain ecosystem, I like to deepen my knowledge and share my discoveries. In a perpetual quest to learn more about cryptos, I recently joined the Cryptoast Research team where I provide weekly fundamental analysis.
Theo Zananiri
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