Grayscale Announces Launch of Two New Cryptocurrency Trusts
Grayscale, a well-known investment company with the largest spot Bitcoin exchange-traded fund (ETF) under the ticker GBTC, has announced the launch of two new cryptocurrency trusts. These new investment products will only be available to accredited investors and will allow them to invest in STX and NEAR tokens.
STX Token: Bringing Smart Contract Functionality to Bitcoin
STX is the native token of the Stacks network, a second-layer (L2) solution built on the Bitcoin blockchain. The Stacks network brings smart contract functionality to the Bitcoin ecosystem, enabling the development of decentralized applications (DApps) based on the first cryptocurrency. In the near future, the Stacks team plans to conduct the Nakamoto hard fork, aimed at increasing network throughput and modernizing the mining process.
Currently, STX ranks 46th in terms of market capitalization among cryptocurrencies, with a value of $2.93 billion. The token’s price is $2.01, and it has lost 1.9% of its value in the last day and 2.3% in the last week.
Expanding Investment Opportunities in the Crypto Industry
The launch of new trusts by Grayscale highlights the growing interest in various cryptocurrencies and new investment opportunities. These trusts will provide accredited investors with the opportunity to access promising tokens such as STX and NEAR, expanding their investment portfolios and opening up new horizons for investments in the crypto industry.
