Founded in 2013 and headquartered in Connecticut, Grayscale has made a new move. The US-based crypto asset management company has reopened private placements for many altcoin projects to accredited investors. Here are all the details…
Grayscale announces altcoin projects
Grayscale Investments has reopened private placements for eligible investors in 19 of its trusts, including XRP, Solana (SOL), and Stellar (XLM). Institutional and individual accredited investors can subscribe to private placements based on net asset value (NAV), hold them for a certain period of time, and sell them on the secondary market. Grayscale Investments announced on November 26 that private placement subscriptions based on net asset value (NAV) have reopened. These are only available to accredited investors.
According to Grayscale, accredited investors are those who earn more than $200,000 per year (or $300,000 per year with a spouse or equivalent). They must have a net worth of more than $1 million, either individually or with their spouse or peers. Legal entities must have $5 million in liquid assets. Investors can invest in the trust for top and trending tokens including Ripple’s XRP, Solana (SOL), Stellar (XLM), Avalanche (AVAX), AAVE, Chainlink (LINK), Filecoin (FIL), NEAR, Bittensor (TAO), and Zcash (ZEC). Other tokens include Basic Attention Token (BAT), Bitcoin Cash (BCH), Litecoin (LTC), SUI, Stacks (STX), Maker (MKR), Livepeer (LPT), and Decentraland (MANA).
Decentralized AI fund also attracts attention
Grayscale has also listed its Decentralized AI Fund among the trusts for private placement subscriptions. The fund consists of NEAR, TAO, FIL, RENDER, and GRT tokens. The recent sell-off in Bitcoin prices has also triggered sell-offs in XRP, Solana (SOL), and Stellar (XLM). The XRP price fell by over 10 percent to a 24-hour low of $1.3. SOL fell by 5 percent to $229, while XLM fell by nearly 15 percent and is currently trading at $0.4316.
Grayscale was founded in 2013 and launched a Bitcoin trust that year. In 2015, the company became a subsidiary of Digital Currency Group. That same year, the Grayscale Bitcoin Trust began trading over-the-counter (OTC) and became the first publicly traded Bitcoin fund in the United States. The company then expanded its reach, as it began offering investment products for altcoin projects in addition to Bitcoin. The company is also entering the ETF space. In July 2024, it launched an Ethereum ETF and a mini Bitcoin ETF.
To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channel
