A boutique digital assets firm has launched the first U.S. fund that exclusively invests in smart-contract platform Solana (SOL).
Osprey Fund’s Solana Trust is available to accredited investors for subscription with a $10,000 minimum investment, according to a press release.
Solana, which has received attention from crypto analysts recently, saw its token surge by nearly 50% in the past seven days. SOL is trading at $192.54 at time of writing, according to CoinGecko.
Greg King, chief executive of the New York City-based company, says Solana’s technology has unique potential compared to its competitors.
“Solana has the potential to become the rails of an integrated, decentralized financial network that establishes one global price for assets. With the debut of the Osprey Solana Trust, we are continuing to build onramps for investors to access what we believe are the most promising blockchain technologies.”
In June, crypto investing giant Grayscale announced it was considering adding Solana to its holdings to offer as an investment product.
Total value locked (TVL) in Solana’s ecosystem has exploded to more than $8.7 billion this week.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Pavel Chagochkin