The Grayscale digital currency investment group has confirmed that it has successfully launched its latest fund, dedicated to the Stellar token Lumens (XLM), in a Tweet 17 January.
Grayscale, which now manages nine cryptocurrency funds, has planned to move in concomitance with a change of image for its products, renaming all its unique currency products to be trusted.
The company offers "single investment investment products offering exposure to" Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Ripple (XRP) ) and Zcash (ZEC), together with Stellar.
Speaking to Fortune, the CEO Michael Sonnenshein said that the latest addition arose from investors' request to get exposure to the price movements of the XLM.
"I think the theory is solid," he said of Stellar's commercial proposal to link cryptocurrencies to monetary conversions, continuing:
"An American bank can keep large amounts of currencies in foreign banks and be able to bring those foreign currency balances to a balance sheet because the working capital is valuable, and financial institutions will not be obliged to keep balances everywhere. 39; efficiency and will complete budgets for other uses ".
Stellar has seen an excellent Q4 after an agreement with Blockchain.com, a cryptocurrency portfolio provider, to distribute XLM worth $ 125 million in an airdrop, with the goal of increasing awareness and adoption.
The grayscale meanwhile went through a mixed year in 2018. In December, after Bitcoin had fallen to its 15-month low of $ 3,130, the company's Bitcoin Trust earned less than $ 1 billion for the first time during the year. 39; year.
The search for the cryptocurrency newsletter Diar added that the availability of Grayscale amounted to just over 1 percent of the total number of bitcoins in circulation.
Stellar is currently up 1.22 percent on the day, trading at $ 0.10.