18 January 2019 17: 30 & nbspUTC
January 18, 2019 at 22: 02 & nbspUTC
The Stellar Lumen Trust, which is the first investment product in a single asset, was recently launched by Grayscale. This gives visibility to Lumen, the digital heritage of the stellar blockchain. The announcement was made public via a tweet and a press release on January 17 from Grayscale which revealed the launch of the Grayscale Stellar Lumen Trust. This was the moment when investors would have the opportunity to get exposure to the price movement of XLM through a traditional investment vehicle.
Grayscale, headquartered in the United States, is a subsidiary of the group of digital currencies specializing in the construction, purchase and investment in over 130 Bitcoin and Blockchain companies worldwide. It is also known as the largest digital currency manager in the world with a proven track record over time. Stellar is a platform that acts as a network for financial institutions, payment systems and people all over the world. Lumen is the native asset that allows users to conduct transactions.
Grayscale CEO Michael Sonnenschein, in the press release, said that the company is pleased to bring the trust of gray star lights into the market and will continue to provide investors with access to blockchain projects with considerable traction and resources. Furthermore, he said, the company had already established a leadership role in the emerging market in the sector. He also hoped that the launch of this product will expand the coverage of the digital resource in the universe.
This is the ninth trust that will be launched by Grayscale and has launched Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), XRP (XRP) and Zcash (ZEC). The company also announced that it will change the names of its individual products and those that provide exposure to the trust previously listed 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 ™
Grayscale's products are available to both institutional investors and accredited individual investors.