NEW YORK, Jan. 17, 2019 /PRNewswire/ -- Grayscale Investments, LLC, a global leader in digital currency asset management, today announced it has launched Grayscale Stellar Lumens Trust, the first single-asset investment product that provides exposure to Lumens (XLM), the native asset of the Stellar network. This is the ninth single-asset investment product introduced by Grayscale, which also manages Grayscale Digital Large Cap Fund™, a diversified investment product that provides exposure to the top digital currencies by market cap.
Stellar is a platform that connects financial institutions, payment systems, and people around the world. The platform is designed to provide low-cost financial services to fight poverty and income inequality and foster individual growth. Lumens is the native asset of the Stellar network that enables users to move money around the world and conduct transactions between different currencies quickly and securely.
"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," said Michael Sonnenshein, Managing Director of Grayscale. "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."
In addition to launching Grayscale Stellar Lumens Trust, Grayscale also announced changes to 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).
Going forward, these products will be named:
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™
Grayscale's investment products are available to institutional and accredited individual investors. Grayscale Bitcoin Trust™ (OTCQX: GBTC) and Grayscale Ethereum Classic Trust™ (OTCQX: ETCG) are also publicly quoted and available to all individual and institutional investors on the OTCQX® Best Market. As of December 31, 2018, the firm managed approximately $825 million in assets.
Grayscale is a wholly-owned subsidiary of Digital Currency Group, which builds, buys, and invests in more than 130 bitcoin and blockchain companies around the world.
"Stellar" is a trademark of the Stellar Development Foundation. Grayscale Stellar Lumens Trust is not affiliated with, endorsed by, or supported by the Stellar Development Foundation.
About Grayscale Investments, LLC
Grayscale is the world's largest digital currency asset manager, with a proven track record and unrivaled experience. We give investors the tools to make informed investing decisions in a burgeoning asset class. As part of Digital Currency Group, Grayscale accesses the world's biggest network of digital currency intelligence to build better investment products. We have removed the barrier to entry so that institutions and investors can benefit from exposure to digital currencies. Now, forward-thinking investors can embrace a digital future within an institutional grade investment.
SOURCE Grayscale Investments, LLC