{"id":90767,"date":"2024-08-22T11:43:51","date_gmt":"2024-08-22T15:43:51","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=90767"},"modified":"2024-08-22T11:57:16","modified_gmt":"2024-08-22T15:57:16","slug":"grayscale-unveils-avalanche-trust-avax-soars","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/grayscale-unveils-avalanche-trust-avax-soars\/","title":{"rendered":"Grayscale Unveils Avalanche Trust, AVAX Soars 10%"},"content":{"rendered":"\n

Grayscale launches Avalanche Trust<\/a>, a single-asset crypto investment trust, prompting AVAX to rise 10% today.<\/p>\n\n\n\n

\"Grayscale<\/figure>\n\n\n\n

Grayscale Investment, a leading crypto asset manager, has unveiled an investment trust for Avalanche.<\/p>\n\n\n\n

Following this announcement, AVAX's price surged by nearly 10%, signaling a positive shift in investor sentiment.<\/p>\n\n\n\n

This development also underscores the asset manager\u2019s commitment to broadening its digital asset investment offerings.<\/p>\n\n\n\n

Grayscale Expands Crypto Portfolio with Avalanche Trust<\/h2>\n\n\n\n

In its latest announcement\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Grayscale Investments introduced its newest single-asset crypto investment trust focused on the Avalanche token.<\/p>\n\n\n\n

According to the announcement, this product will be available to accredited investors, enabling them to invest directly in AVAX.<\/p>\n\n\n\n

The trust is part of Grayscale\u2019s broader strategy to provide diverse investment opportunities within the crypto ecosystem.<\/p>\n\n\n\n

The asset manager emphasized that the AVAX blockchain is specifically designed to tackle the \u201cblockchain trilemma\u201d by enhancing scalability, security, and decentralization.<\/p>\n\n\n\n

Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale, praised the platform's importance, emphasizing that the crypto trust plays a key role in advancing real-world asset (RWA) tokenization.<\/p>\n\n\n\n

He highlighted that the platform's strategic partnerships and multi-chain structure have already driven wider adoption of RWA tokens, making it an appealing investment option.<\/p>\n\n\n\n

Additionally, the launch of this new crypto trust aligns with the asset manager\u2019s commitment to the crypto sector.<\/p>\n\n\n\n

The firm seems to be focused on providing investors with seamless access to emerging and impactful developments within the crypto industry.<\/p>\n\n\n\n

The company currently offers over 20 crypto investment products, showcasing its ongoing dedication to the digital asset space.<\/p>\n\n\n\n

AVAX Price Surges<\/h2>\n\n\n\n

Following the announcement, AVAX\u2019s price<\/use><\/svg><\/span><\/a> surged by around 10% to $25.04, with trading volume increasing nearly 9% to $333.31 million.<\/p>\n\n\n\n

Over the past 24 hours, the cryptocurrency reached a low of $22.70.<\/p>\n\n\n\n

Notably, CoinGlass data revealed that AVAX\u2019s Open Interest climbed more than 9% to $257.04 million, reflecting growing investor interest in the crypto.<\/p>\n\n\n\n

According to a recent Avalanche price analysis, the cryptocurrency could exceed $76 by the end of 2024.<\/p>\n\n\n\n

The recent price surge suggests that investors are responding positively to the Grayscale announcement.<\/p>\n\n\n\n

In other words, the trust might be boosting investor optimism by increasing exposure to the crypto.<\/p>\n","protected":false},"excerpt":{"rendered":"

Grayscale launches Avalanche Trust, a single-asset crypto investment trust, prompting AVAX to rise 10% today. Grayscale Investment, a leading crypto asset manager, has unveiled an investment trust for Avalanche. Following this announcement, AVAX’s price surged by nearly 10%, signaling a positive shift in investor sentiment. This development also underscores the asset manager\u2019s commitment to broadening its […]<\/p>\n","protected":false},"author":56,"featured_media":90777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6066,8237,20152,541],"class_list":["post-90767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-avax-price","tag-grayscale-investments","tag-avalanche-avax","tag-grayscale"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/Grayscale-Unveils-Avalanche-Trust-AVAX-Soars-10.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=90767"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/90777"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=90767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=90767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=90767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}