Grayscale Launches Two New Crypto Trusts

Global asset manager Grayscale has announced the launch of new investment trusts for NEAR Protocol (NEAR) and Stacks (STX). Institutional and individual accredited investors will be able to gain access to these trusts. 

The products have expanded the list of Grayscale’s single-asset offerings that already include such cryptocurrencies as Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), Zcash (ZEC) and other cryptocurrencies.

Grayscale’s Rayhaneh Sharif-Askary has stated that the leading crypto asset manager is committed to enabling access to “emerging” parts of the ecosystem.    

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Last year, Grayscale won a lawsuit to convert Bitcoin trust into an exchange-traded fund that was launched earlier this year, alongside a slew of competing products. 

It is also attempting to convert its Ethereum trust, which currently holds more than $10.9 billion in assets under management, into a spot ETF.

As reported by U.Today, Grayscale CEO Michael Sonneshein resigned earlier this week. He has been replaced by Goldman Sachs veteran Peter Mintzberg.