Osprey Funds Launches Solana (SOL) Trust to Attract Institutional Investors

Solana has been one of the most talked-about projects in the crypto space this week, and it doesn’t appear to be slowing down. In the latest show of adoption, an institutional investment firm has opened a new Fund for the company’s SOL token.

Big Expansion for Osprey

According to an official press release shared on Thursday, Osprey Funds has launched an SOL-based Trust product for private placement. The press release confirmed that the new product would offer exposure to SOL for investors, making Osprey the first company to offer an investment product dedicated solely to the token.

The Osprey Solana Fund is open to all accredited investors, with a minimum subscription amount of $10,000. Osprey Funds pointed out that it will be looking to list the SOL fund on the OTCQX over-the-counter (OTC) market as soon as possible. The company has also waived its management fee – which stands at 2.5 percent – for all investors in the SOL fund until January 2023.

The SOL Fund is the fourth product to be launched by Osprey. The New York company already offering exposure to Bitcoin (BTC), Polkadot’s DOT token, and the ALGO token from blockchain project Algorand. BTC 2.58% Bitcoin / USD BTCUSD $ 30,087.39
Volume 27.98 b Change $776.25 Open $30,087.39 Circulating 19.05 m Market Cap 573.13 b
4 mon SEC Commissioner says NFTs Might Fall Within Their Jurisdiction, Gensler Hires Senate Aid for Crypto Policy 4 mon A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 4 mon Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum
DOT 2.41% Polkadot / USD DOTUSD $ 10.23
Volume 653.22 m Change $0.25 Open $10.23 Circulating 987.58 m Market Cap 10.1 b
5 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 5 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 5 mon Solana Unaffected by Price Jitters while Bitcoin, Ether, Polkadot, and Cardano Post Outflows
ALGO -1.19% Algorand / USD ALGOUSD $ 0.41
Volume 132.54 m Change $0.00 Open $0.41 Circulating 6.81 b Market Cap 2.82 b
5 mon Over 4.4 Billion Added in Total Stablecoin Supply in the First Week of December 5 mon Crypto Expected to “Outperform” if Inflation Persists, Bitcoin and Ether Options OI Trend Upwards To New Highs 7 mon Tether (USDT) Market Cap Surpasses $70 Billion, Majority Issued on Tron Blockchain

What a Week for Solana

This announcement is yet another show of support from major institutional players as SOL’s profile grows. The coin has been growing in adoption within developer’s circles for a while. Institutional investors are also taking note. According to last week’s Digital Asset Fund Flows Weekly issue from crypto investment firm CoinShares, institutional inflows to SOL-based products stood at $13.2 million last week. – a jump of 388 percent.

CoinShares added that the inflows to Solna-based products have doubled so fr year-to-date, with the asset absorbing $25 million in 2021 so far. This number could rise even higher, as Delta Exchange announced earlier this week that it had launched options trading for the coin. Investors can now purchase options calls on SOL with daily maturities, although weekly and monthly maturities are expected to be rolled out subsequently.

Besides, investors are still waiting for the Solana Investment Trust announced by Grayscale Investments back in June. Grayscale is the industry’s largest asset management firm, and support for Solana should increase the asset’s credibility among institutional investors even more.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide