Grayscale releases the trusted product Avalanche

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Leading asset manager Grayscale Investments today announced the launch of Grayscale Avalanche Trust, a new investment product designed to provide investors with exposure to Avalanche (AVAX), a popular blockchain platform known for its scalability, security and decentralization.

Grayscale said the trust is part of the company’s strategy to provide investors with diverse exposure to crypto.

“The launch of the Grayscale Avalanche Trust highlights Grayscale’s continued commitment to providing investors with innovative opportunities to access exciting developments in the crypto ecosystem,” said Rayhaneh Sharif-Askary, Grayscale’s Head of Product and Research.

The new trust, which operates similarly to Grayscale’s existing funds, marks a major addition to Grayscale’s growing list of more than 20 crypto investment products. At the time of writing, Grayscale Avalanche Trust shares are trading at $11.75 and charge a management fee of 2.5%.

Grayscale also offers trusts linked to various crypto assets such as Solana, Stellar, Chainlink, Near and Litecoin. The firm just launched new funds investing in Sui and Bittensor earlier this month.

The introduction of Grayscale Avalanche Trust comes at a time when institutions such as JPMorgan and City are adopting Avalanche’s customizable platform, particularly through its specialized subnets, Avalanche said in a blog post.

Avalanche has positioned itself as a leading platform for RWA tokenization by partnering with various institutions and companies, according to Grayscale.

“Through its key strategic partnerships and unique multi-chain structure, Avalanche plays a critical role in advancing RWA tokenization,” Sharif-Askary noted.

According to a separate announcement from Franklin Templeton on Thursday, the asset management firm has expanded its Franklin OnChain US Government Monetary Fund to the Avalanche network.

The move marks the first instance of an on-chain money market fund on Avalanche. Institutional investors can now access Franklin Templeton’s Benji Investments ledger through the Avalanche network, provided they meet certain eligibility criteria.

Avalanche’s AVA token rose 5% to nearly $25 on positive news. At the time of writing, AVAX is trading at $24.6, up 6% in the past 24 hours, CoinGecko data shows.

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