Grayscale Investments, a leading crypto fund manager, has introduced the Grayscale Avalanche Trust, a new investment fund focused on Avalanche (AVAX) tokens. Announced on August 22, this trust enhances Grayscale’s portfolio of over 20 crypto investment products, offering accredited investors a specialized avenue to invest in AVAX.
The Grayscale Avalanche Trust is a single-asset fund dedicated solely to AVAX, unlike Grayscale’s exchange-traded funds. It is designed to give investors direct exposure to Avalanche’s native cryptocurrency, which supports a multi-chain smart contract platform known for its scalability, network security, and decentralization, as well as real-world asset tokenization.
This new fund reflects Grayscale’s ongoing strategy to provide innovative investment opportunities in the crypto space. It follows recent additions to Grayscale’s offerings, including trusts for MakerDAO’s MKR token, Bittensor, and Sui.
Following the announcement, AVAX’s price spiked to $25.16 before slightly retreating to about $24.75. Avalanche’s Open Interest also grew by nearly 9%, indicating increased investor interest. The positive market reaction highlights the potential for significant capital inflows into AVAX, further bolstered by recent news such as Franklin Templeton’s expansion of its blockchain-integrated money market fund to the Avalanche platform.
