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.
1/ We are excited to announce two big developments! First, today marks the launch of Grayscale Stellar Lumens Trust! Investors can now gain exposure to the price movement of XLM through a traditional investment vehicle. For more info go to https://t.co/izJooCsKwS
— Grayscale (@GrayscaleInvest) January 17, 2019
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.