Grayscale Investments, LLC, a digital currency investing authority, announced last week the launch of its new single-asset investment product, Grayscale Stellar Lumens Trust, which provides exposure to Lumens (XLM), the native asset of the Stellar network. Grayscale reported this is the ninth single-asset investment product is has introduced.
According to Grayscale, Stellar is a platform that connects financial institutions, payment systems, and people around the world. It is designed to provide low-cost financial services to fight poverty and income inequality and foster individual growth. Grayscale then noted that Lumens enables users to move money around the world and conduct transactions between different currencies to what the firm believes to be quickly and securely. While sharing more details about the new product, Michael Sonnenshein, Managing Director of Grayscale, stated:
“We are pleased to bring Grayscale Stellar Lumens Trust to market and will continue to provide investors access to established blockchain projects with substantial traction and resources. Grayscale has established a leadership role in this emerging industry and the launch of this product will expand our coverage of the digital asset universe.”
Grayson also announced it has changed the names of its single-asset products. Grayscale sponsors single-asset investment products that provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), XRP, and Zcash (ZEC). The products will be the following:
Grayscale Bitcoin Trust
Grayscale Bitcoin Cash Trust
Grayscale Ethereum Trust
Grayscale Ethereum Classic Trust
Grayscale Horizen Trust
Grayscale Litecoin Trust
Grayscale Stellar Lumens Trust
Grayscale XRP Trust
Grayscale Zcash Trust