Crypto-asset management company Grayscale has launched a Solana trust product for accredited investors through a private placement, Theblockcrypto reports.
The product will offer access to SOL, a native token used on the Solana blockchain. The launch comes two months after Grayscale rival Osprey Funds launched the Solana trust product. Ethereum rival – Solana – is becoming popular among decentralized finance (DeFi) projects. The price of SOL's own token has soared from $50 to more than $200 in recent months as blockchain gains traction and demand for SOL has grown among retail and institutional investors.
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