STAMFORD, Conn., May 23, 2024 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest crypto asset manager*, today announced the creation and public launch of two new crypto mutual funds, Grayscale® Near Trust and Grayscale® Stacks Trust.
“As demand for diversifying crypto asset exposure continues, Grayscale remains committed to launching new products that give investors access to emerging and evolving parts of the crypto ecosystem,” said Reyhaneh Sharif Askari, head of product and research at Grayscale. “By creating a unique solution that addresses blockchain scalability challenges, Stacks and Nia are poised to help drive greater adoption and ultimately help propel the cryptocurrency ecosystem forward.”
The new trust is currently accepting daily applications from qualified individual and institutional investors. The trust will function similarly to Grayscale’s existing suite of single-asset mutual funds and is one of the first investment products to invest exclusively in the underlying tokens of Near Protocol (NEAR) and Stacks (STX), respectively.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Grayscale intends to attempt to have shares of its New Products trade in the secondary market; however, there can be no assurance of success. Although shares of certain Products have been approved for trading in the secondary market, investors in New Products should not assume that the shares will receive such approval due to a variety of factors, including questions that regulatory authorities, such as the SEC, FINRA or other regulatory agencies, may have regarding such Products. As a result, shareholders of such Products should be prepared to bear the risks of investing in the Shares for an indefinite period of time. To date, certain products have not achieved their investment objectives and the shares of such products quoted on the OTCQX do not reflect the value of the Digital Assets held by such products, less such products’ expenses and other liabilities, but instead have traded at a premium, sometimes exceeding such value by significant amounts, and in some instances shares of certain products have traded at a discount.
*Based on assets under management as of March 28, 2024
About Grayscale Investments®
Grayscale gives investors access to the digital economy through a suite of forward-looking investment products. Founded in 2013, Grayscale boasts a proven track record and deep expertise as the world’s largest crypto asset manager. Investors, advisors, and allocators turn to Grayscale for single-asset, diversified, and thematic exposure. For more information, follow @Grayscale or visit grayscale.com.
Media Contact
jennifer rosenthal
inquiry
