Grayscale Launches Two New Trusts: Easy Investments into NEAR and STX

Bittime - Grayscale Investments launched two new trusts focused on NEAR Protocol (NEAR) and Bitcoin Layer 2 Stacks (STX). This product is aimed at accredited institutional and individual investors who want to easily invest into emerging crypto assets.

Grayscale Adds Crypto Investment Options

Grayscale Investments, a leading crypto asset management company, has just launched two new investment trusts. Grayscale Near Trust and Grayscale Stacks Trust officially opened on May 23, 2024, allowing accredited institutional and individual investors to invest daily into NEAR and STX crypto assets.

Exclusive Investment into NEAR and STX

As per the company's official release on Thursday, Grayscale Near Trust is specifically investing in the NEAR token, which supports Near Protocol. Meanwhile, the Grayscale Stacks Trust focuses on the STX token, part of the Bitcoin Layer 2 Stacks.

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"With continued demand for diversified exposure to crypto assets, Grayscale is committed to launching new products that enable investors to access a growing part of the crypto ecosystem," said Rayhaneh Sharif-Askary, Grayscale's Head of Product & Research, in a statement.

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"Through innovative solutions to address blockchain scalability challenges, Stacks and Near have the potential to drive broader adoption and advance the crypto ecosystem as a whole," added Sharif-Askary.

Grayscale Remains Dominant

Grayscale Bitcoin Trust (GBTC), a Bitcoin-based crypto investment product from Grayscale, still holds the record for one of the products with the highest total assets under management (AUM) compared to other crypto products. According to The Block's Data Dashboard, GBTC had AUM of $20.08 billion as of May 23, 2024.

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Meanwhile, the prices of NEAR and STX were around $7.93 and $2,044 respectively as of May 23, 2024 at 9:19 AM ET (13:19 UTC) according to The Block data.

Grayscale Ethereum ETF Opportunities Increase

The launch of these two new trusts comes amid growing chances for Grayscale to gain approval for its Ethereum ETF product. Senior ETF analysts at Bloomberg recently revised their predictions from 25% to 75% regarding the likelihood of United States Securities and Exchange Commission (SEC) approval for an Ethereum ETF.

Grayscale's move to remove references to staking from its Ethereum ETF application on May 21 was seen as an attempt to further improve its chances of approval.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.