Grayscale Investments Launches AVAX Investment Fund

Grayscale Investments has announced the launch of a new product — Grayscale Avalanche Trust. This is an exchange-traded fund for investing in the AVAX coin.

According to the announcement, the product is already available to accredited investors. Like other single-asset exchange-traded funds, this is a closed trust from which funds cannot be withdrawn directly.

Grayscale Avalanche Trust complements the basket of crypto-asset-based exchange-traded funds that the provider has recently launched. These are trusts based on tokens such as MKR and SUI.

The company noted that the new product will give investors access to a promising ecosystem, avoiding the risks inherent in the cryptocurrency industry. In total, Grayscale Investments offers more than 20 different products based on crypto assets.

Against the backdrop of the news, AVAX was noted for a sharp jump. On the daily chart, the increase was almost 5%. At the time of preparation of this material, the asset is trading at $24.68. $AVAX