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Seeking Alpha 2021-11-30 15:16:05

Grayscale Investments launches Solana Trust; rivaling with Ether

Grayscale Investments, with the Grayscale Bitcoin Trust (OTC:GBTC) and Grayscale Ethereum Trust (OTCQX:ETHE), as its most well-known products, launches the Grayscale Solana Trust. The Trust is solely and passively invested in Solana (SOL-USD), the native token of the Ethereum (ETH-USD) network rival, Solana network, a smart contract platform. The Solana (SOL-USD) protocol introduces the Proof-of-History consensus mechanism as an alternative to pure Proof-of-Stake and Proof-of-Work blockchains. Note that a PoH protocol is a proof for verifying order and passage of time between two events. The Trust is now open for daily subscription by eligible individual and institutional accredited investors, the company says. Solana (SOL-USD) tokens climb 4% on Tuesday as the broader crypto market gets a boost. (OTC:GBTC +0.7%) and (OTCQX:ETHE +6.2%) rise. On Monday, Singapore launched a spot Bitcoin ETF.

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