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- Grayscale, the oldest asset management firm in the cryptocurrency sector, is introducing a new investment option that will provide select individuals with access to Avalanche (AVAX).
The Grayscale Avalanche Trust will grant AVAX exposure to qualified investors through its private placement framework.
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We are excited to announce the establishment of a new single-asset cryptocurrency investment fund, accessible via private placement: Grayscale Avalanche Trust $AVAX.
This opportunity is available to eligible accredited investors.
Read the press release: https://t.co/XwKfjPD9Tw pic.twitter.com/HdzlNfwkQ8
— Grayscale (@Grayscale) August 22, 2024
Similar to many other offerings from Grayscale, the AVAX trust fund will exclusively be available through private placement, which means that redemptions will not be permitted. This could lead to the product trading at significant discounts or premiums, and only accredited investors will be able to acquire shares, which are subject to a mandatory holding period of one year.
Although the route to spot AVAX ETFs was highlighted by a Coinbase Derivatives filing in late June to introduce AVAX futures, the existence of private placement Grayscale Trusts with flexible registration criteria has no impact on the future probability of spot ETF approval for any digital asset.
