Osprey Funds, a cryptocurrency asset management firm, has launched a Polygon trust product for private placement.
MATIC, the native token on Polygon, an Ethereum Layer-2 blockchain network, will be available through the product. According to Osprey, it is the first investment product in the United States to invest solely in MATIC. Grayscale, an Osprey competitor, recently stated that it is considering launching a trust product based on MATIC, but has yet to do so.
The Osprey Polygon fund is currently open for subscription to accredited investors with a $10,000 minimum investment. The asset manager stated that it plans to list 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’s fifth trust product is the Polygon fund. The company recently launched a Solana (SOL) trust and also offers bitcoin (BTC), Polkadot’s DOT, and Algorand’s ALGO tokens-related products.