- Grayscale has expanded its suite of crypto products, now offering AVAX to qualified investors.
- The Avalanche Trust will enable investors to participate in the ongoing development of real-world asset (RWA) tokenisation carried out by Avalanche.
- Grayscale also launched a trust for MakerDAO’s MKR token, which also provides exposure to tokenised assets.
Grayscale, one of the largest asset managers in the industry, is expanding its crypto offering. The firm recently launched an Avalanche (AVAX) trust, allowing accredited investors to gain exposure to the cryptocurrency.
The Grayscale Avalanche Trust was launched on Thursday, adding AVAX to the firm’s broad suite of over 20 investment products. The fund is not exchange-traded—it’s only available for qualified investors.
The asset manager recently added a trust to invest in MakerDAO’s MKR token, which exposes investors to yield-generating assets and products, most popularly, real-world assets (RWAs) and on-chain credit.
Related: Grayscale Launches MakerDAO Trust Fund, Hinting at Further Possible Additions
Rising Interest in Real-World Assets
Similar to MakerDAO, the Avalanche Trust will allow investors to participate in the ongoing development of RWA tokenisation, according to Rayhaneh Sharif-Askary, Grayscale’s Head of Product and Research.
She noted Avalanche’s significant role in the RWA market, highlighting the network’s distinctive multi-chain structure, which efficiently brings real-world assets on-chain.
Through its key strategic partnerships and unique, multi-chain structure, Avalanche is playing a pivotal role in the advancement of RWA tokenization.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product and ResearchAVAX is one of the largest cryptocurrencies in terms of market capitalisation. Its blockchain, designed with a three-chain architecture, provides robust technical capabilities, balancing high throughput, scalability, and decentralisation.
Avalanche has become an attractive platform for the tokenisation of real-world assets. A year ago, the Avalanche Foundation launched Avalanche Vista, a US$50M (AU$74.5M) initiative to pioneer tokenisation on its blockchain platform.
Ethereum ETFs on the Edge
Crypto-linked exchange-traded funds have become a sensation following the approval of the first US spot Bitcoin ETFs in January. Ethereum followed suit several months later, with the Securities and Exchange Commission (SEC) approving nine spot Ethereum ETFs, of which Grayscale owns two—the Grayscale Ethereum Mini Trust (ETH) and the Grayscale Ethereum Trust (ETHE).
It’s not looking so good, though. Data from Farside Investor shows spot ETH ETFs have recorded five consecutive days of outflows, marking the longest period of continuous outflows since their launch on July 23. Grayscale’s ETH saw significant outflows, over US$2.5B (AU$3.7B), on August 21.
With that in mind, it’s difficult to envision a Solana ETF being approved soon. At least in the US, because Brazil already approved not one but two funds.
Related: Hashdex Launches Solana ETF in Brazil Amid US Security Speculations
The expansion of spot ETFs to include other cryptocurrencies will depend on several factors, including market readiness, evolving regulatory frameworks, and ongoing legal and market dynamics. But ultimately, it all comes down to demand.
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