Grayscale Launches Its 9th Investment Trust; The Stellar Lumens (XLM) Trust

Grayscale has launched Stellar Lumen trust, the first single asset investment product that gives exposure to Lumen, the digital asset of the stellar blockchain. This was made known through a tweet posted on Twitter and a press release on the 17th of January by Grayscale.

The Stellar Lumens (XLM) Trust

Grayscale noted in the tweet that the firm is excited to announce two big development. The first development was stated as the launch of the Grayscale stellar lumen trust and investors can now gain exposure to the price movement of XLM through a traditional investment vehicle.
In the press release, the managing director of Grayscale Michael Sonnenschein stated that the firm is pleased to bring grayscale stellar lumens trust to the market and the firm will continue to provide investors access to established blockchain projects with substantial traction and resources. Michael further noted that Grayscale had established a leadership role in the emerging market of industry and the launch of this product will expand the coverage of the digital asset in the universe.
Meanwhile, as noted in the press release, the stellar lumen trust is the ninth trust to be launched by Grayscale. The firm has launched Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), XRP (XRP) and Zcash (ZEC).
Further, the firm also announced that it had changed the names of its single asset products. The single asset product that provides exposure to the previously listed trust are now named:
Grayscale Bitcoin Trust™
Grayscale Bitcoin Cash Trust™
Grayscale Ethereum Trust™
Grayscale Ethereum Classic Trust™
Grayscale Horizen Trust™
Grayscale Litecoin Trust™
Grayscale Stellar Lumens Trust™
Grayscale XRP Trust™
Grayscale Zcash Trust™
The products of Grayscale are available for both institutional investors as well as accredited individual investors.

About Grayscale and Stellar Lumen

Grayscale is a firm that is a subsidiary of the digital currency group that is specialized in building, buying and investing in more than 130 Bitcoin and blockchain firms in the world. Also, the firm is known as the world largest digital currency manager with a proven record over time.
The firm is headquartered in new york the USA, and it uses its influence as a subsidiary of digital currency group to access the world’s biggest of digital currency intelligence to build better investment products for its clients.
Stellar is a platform that serves as a network for financial institutions, payment systems and people around the world. Lumen is the native asset that enables the users to conduct transactions.

Related posts
cryptocurrencyDOGEdogecoinDOGEUSDElon MuskNews

Be Careful! Elon Musk Warns As Dogecoin Soars On SNL Eve

In the warm-up to a special Saturday Night Live Edition featuring the self-acclaimed billionaire dogefather, Elon Musk, Dogecoin (DOGE) has recorded tremendous speculative success and is currently sprinting past the $0.6 mark in a bid to cross the $1 epic…
cryptocurrencyNewsRippleSECXRP NewsXRPUSDXRPUSDT

A Look At What’s In Store For XRP If Ripple Eventually Goes Public After SEC Case

Fired up by the soaring success of Coinbase, Ripple Labs Inc, the establishment behind the fifth most valuable cryptocurrency – XRP, has disclosed plans to issue an Initial Public Offering after it is done with its court case. The embattled altcoin…
BanksBinancebnbusdcryptocurrencyCryptocurrency NewsNews

Banks Refusing To Work With Crypto Will Pay A Hefty Price: Binance CEO CZ

The CEO of Binance has been very vocal about his stances on the cryptocurrency market. Yesterday, the CEO revealed he may have underestimated cryptocurrencies like DOGE, ETH, BTC, and BNB. He even emphasized DOGE’s impressive performance, despite holding zero Dogecoin….