Grayscale opens private placement subscriptions in token trusts such as XRP, Solana (SOL), Stellar (XLM), and Decentralized AI Fund.
Grayscale Investments has reopened private placement offerings for 19 of its trusts, including XRP, Solana (SOL), and Stellar (XLM), targeting eligible institutional and individual accredited investors.
These offerings allow participants to subscribe at net asset value (NAV) and hold their investments for a designated period before selling on the secondary market.
Grayscale Reopens Private Placements for Accredited Investors
In an official announcement on November 26, Grayscale revealed that it is once again accepting private placement subscriptions at NAV for accredited investors only.
According to Grayscale, accredited investors are defined as those earning over $200,000 annually ($300,000 when combined with a spouse or equivalent) or possessing a net worth exceeding $1 million, either individually or with a spouse or equivalent. Entities must hold $5 million in liquid assets to qualify.
Tokens Available for Investment
Investors can choose from trusts holding top and trending tokens, including XRP, Solana (SOL), Stellar (XLM), Avalanche (AVAX), AAVE, Chainlink (LINK), Filecoin (FIL), NEAR, Bittensor (TAO), and Zcash (ZEC).
Additional options include Basic Attention Token (BAT), Bitcoin Cash (BCH), Litecoin (LTC), SUI, Stacks (STX), Maker (MKR), Livepeer (LPT), and Decentraland (MANA).
Grayscale also highlighted the Decentralized AI Fund among its offerings, which comprises tokens such as NEAR, TAO, FIL, RENDER, and GRT.
Market Impact Amid Bitcoin Selloff
The reopening of private placements coincides with a broader selloff in the cryptocurrency market, sparked by a decline in Bitcoin’s price. XRP saw a drop of over 10%, reaching a 24-hour low of $1.30.
Meanwhile, SOL retraced by 5% to $229, and XLM fell nearly 15%, trading at $0.4316.