Grayscale Investments, the company behind the Bitcoin Investment Trust, announced the launch their Stellar Lumens Trust on January 17th, 2019. The newly-launched Stellar Lumens Trust is Grayscale’s ninth-single asset.
Grayscale Stellar Lumens Trust is a traditional investment vehicle where the shares are titled in the investors name. This provides a familiar structure for financial and tax advisors, and easy transferability to beneficiaries under estate laws. The Stellar Lumens Trust is a positive development for Stellar Lumens, and a new investment vehicle for investors.
Grayscale Investment’s Website states the following regarding the Stellar Lumens Trust:
“Grayscale Stellar Lumens Trust* enables investors to gain exposure to the price movement of XLM through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping XLM.”
Grayscale Investments tweeted the following:
In addition to the launch of the Stellar Lumens Trust, Grayscale Investments also announced changes to the names of their single asset trusts.
In a statement, Grayscale managing director Michael Sonnenshein pointed out the following:
“the launch of this product will expand our coverage of the digital asset universe.”
Grayscale Investments continue to add new products to their list of investment products. While Stellar, a platform that connects banks, payments systems, and people which integrates to move money quickly, reliably, and at almost no cost., continues to grow.