Grayscale Adds XRP, Solana, Stellar to Private Placement Trusts

• Grayscale has released an official statement confirming that private placement subscriptions are once again available exclusively for accredited investors.
• Investors can choose to invest in Solana (SOL), Stellar (XLM), Ripple( XRP), Avalanche (AVAX), Chainlink (LINK), Zcash (ZEC), Bittensor (TAO) and Filecoin (FIL).

On November 26, Grayscale Investments, an asset management firm with over a decade of expertise in crypto investing, announced the reopening of private placements for its 19 cryptocurrency trusts. This provides opportunities for accredited investors to gain access to a curated selection of digital assets, including Ripple’s XRP, Solana (SOL), and Stellar (XLM). 

The reopening allows both institutional and individual accredited investors to subscribe at net asset value (NAV), thus enabling them to hold these investments for a specified period before trading them on the secondary market.

Diverse Investment Options

This move follows a growing interest in digital asset investment and highlights Grayscale’s commitment to providing accessible investment vehicles for eligible parties. Under Grayscale’s guidelines, accredited investors are defined as individuals or entities that meet specific financial criteria. Individuals must have an annual income surpassing $200,000 (or $300,000 when combined with a spouse or spousal equivalent) and a net worth exceeding $1 million, either individually or jointly.

Additionally, individuals looking to invest must possess at least $5 million in liquid assets. This requirement is designed to ensure that investors have the financial capacity to not only engage with the investment but also to weather potential market fluctuations.

With this offering, investors can choose from a broad array of established tokens. In addition to XRP, SOL, and XLM, the trusts include Avalanche (AVAX), AAVE, Chainlink (LINK), Filecoin (FIL), NEAR, Bittensor (TAO), and Zcash (ZEC). The selection also encapsulates other notable cryptocurrencies such as Basic Attention Token (BAT), Decentraland (MANA), Livepeer (LPT), Bitcoin Cash (BCH), Litecoin (LTC), SUI, Stacks (STX) and MakerDAO’s Maker (MKR).

Among the new projects, Grayscale introduced the Decentralized AI Fund in August, allowing investors to access blockchain-based AI protocols through this fund. The stocks that make up the fund include NEAR, TAO, FIL, RENDER, and GRT tokens. The Grayscale Decentralized AI Fund centers on three main objectives: developing AI-related infrastructure, tackling challenges related to centralized AI, and offering AI services.

The backdrop to this reopening is particularly notable, as the cryptocurrency market has been experiencing substantial volatility. The launch of the new investment products could significantly impact the prices of Solana, Ripple, and the rest of the tokens.

XRP’s price has seen a slight decline, dropping over 0.55% to reach $1.41 within a 24-hour timeframe.

Stellar has risen by 102.4% in the past week and experienced an additional increase of 1.04% in the last 24 hours.

In contrast, Solana dropped by 0.31%, landing at approximately $234 within the same 24-hour period. Stellar’s recent performance marks a significant recovery, showcasing its resilience in the current market landscape.