Grayscale has extended its investment options by launching two new trusts, known as Grayscale Near (NEAR) Trust and Grayscale Stacks (STX) Trust. These trusts aim to offer institutional investors diversified exposure to cryptocurrencies to meet the growing demand for crypto investment products.
Focus on Blockchain Scalability
Grayscale is committed to providing access to emerging segments of the crypto ecosystem with the introduction of Near Trust and Stacks Trust. By addressing blockchain scalability challenges, these trusts are expected to encourage greater cryptocurrency adoption and drive advancements in the crypto ecosystem.
Both trusts are now open for daily subscription to eligible accredited investors, focusing on the tokens underlying the Near Protocol and Stacks Bitcoin Layer 2. Grayscale aims to list the shares of these products on a secondary market, pending regulatory approvals.
Shifts in Demand for Bitcoin ETFs
Aside from launching the new trusts, Grayscale has appointed Peter Mintzberg as its new CEO. While Grayscale has witnessed continuous outflows in US spot ETFs, Bitcoin spot ETFs experienced a net inflow on May 22. In contrast, GBTC saw outflows for the first time in over a week.
As Grayscale introduces the Near Trust and Stacks Trust, institutional investors now have more options for diversified exposure to cryptocurrencies. However, investors should consider the associated risks, including regulatory uncertainties and fluctuations in share value.
STX is currently trading at $1.99, showing a decrease of over 4% in the last 24 hours. Similarly, NEAR is trading at $7.56, reflecting a 3.4% decrease compared to the previous day. These price corrections align with the broader market trend affecting major cryptocurrencies following a recent surge in trading activity.
Image source: Shutterstock, Trading chart: TradingView.com
