Altcoin
Grayscale Opens Private Placements in XRP, SOL, XLM and 15 Other Trusts
Grayscale Investments has reopened private placement in its 19 trusts including XRP, Solana (SOL), and Stellar (XLM) for eligible investors. Institutional and individual accredited investors may subscribe to private placements at net asset value (NAV), enabling them to hold for a specific period and sell them at the secondary market.
In an official announcement on November 26, Grayscale Investments announced the reopening of private placement subscriptions at net asset value (NAV). These are available for accredited investors only.
As per Grayscale, accredited investors mean those who earn more than $200,000 a year (or $300,000 per year with a spouse or spousal equivalent). They must have a net worth of more than $1 million, either alone or together with a spouse or spousal equivalent. Entities must have $5 million in liquid assets.
Investors can invest in trust for top and trending tokens including Ripple’s XRP, Solana (SOL), Stellar (XLM), Avalanche (AVAX), AAVE, Chainlink (LINK), Filecoin (FIL), NEAR, Bittensor (TAO) and Zcash (ZEC). Other tokens include Basic Attention Token (BAT), Bitcoin Cash (BCH), Litecoin (LTC), SUI, Stacks (STX), Maker (MKR), and Livepeer (LPT), and Decentraland (MANA).
Grayscale also listed Decentralized AI Fund among the trusts for private placement subscriptions. The fund consists of NEAR, TAO, FIL, RENDER and GRT tokens.
The recent selloff in Bitcoin price has also triggered selling in XRP, Solana (SOL), and Stellar (XLM). XRP price fell over 10% to hit a 24-hour low of $1.3.
Whereas, SOL price retraced 5% to $229 and XLM fell nearly 15%, with the price currently trading at $0.4316.
Varinder Singh
Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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