• Osprey Funds, a cryptocurrency asset manager, has launched the Solana trust product

  • Osprey Funds, a crypto asset management firm, has launched a Solana trust product for private placement.

    The product will provide exposure to SOL, the Solana blockchain’s native token. According to Osprey, it is the first investment product in the United States to invest solely in SOL. Grayscale, an Osprey competitor, recently stated that it is considering launching a trust product linked to SOL but has yet to do so.

    The Osprey Solana fund is currently available for subscription to accredited investors with a $10,000 minimum investment. The asset manager stated that it intends to pursue listing the fund on the OTCQX over-the-counter market “as soon as possible,” and that the 2.5 percent management fee will be waived for all investors until January 2023.

    Osprey Funds continues to diversify its portfolio. Currently, the company’s products are linked to bitcoin (BTC), Polkadot’s DOT, and Algorand’s ALGO tokens.

    The Solana product arrives at a time when the token’s price has risen to nearly $200 from under $50 just a month ago. SOL is attracting interest from both retail and institutional investors.

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