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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust
Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17.
Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its single-currency products to trusts.
The company serves “single-asset investment products that provide exposure to” Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Ripple (XRP) and Zcash (ZEC), along with Stellar.
Speaking to Fortune, managing director Michael Sonnenshein said the latest addition had arisen from investor demand to gain exposure to XLM’s price movements.