Grayscale launches Stellar-focused trust
|- Grayscale Investments offers XLM-based investment instruments.
- XLM/USD remains rangebound despite positive news.
An investment company Grayscale Investments officially announced that Grayscale Stellar Lumens Trust had been formally launched. The fund is focused solely on XML.
"We are excited to announce two big developments! First, today marks the launch of Grayscale Stellar Lumens Trust! Investors can now gain exposure to the price movement of XLM through a traditional investment vehicle," the company announced on Twitter.
Along with that, it re-named the products based on a single digital asset. The public quotation symbols will remain $GBTC for Grayscale Bitcoin Trust and $ETCG for Grayscale Ethereum Classic Trust.
According to the information on the website devoted to the Trust, investors will be able to capitalize on the price movement of XLM via traditional investment instruments. It means that they will be safe the trouble of buying, storing, and safekeeping XLM.
Potentially, this is a positive fundamental development for XML. However, the coin is lethargic at this stage, moving in sync with the broader market. XML/USD is changing hands at $0.1064, gaining over 2% since this time on Thursday. The coin with a market value of $2B takes the 6th place in CoinMarketCap rating.
Earlier we reported that cryptocurrency experts wait for a strong XML growth in 2019.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.