A sign of the potential of DOT and the Polkadot blockchain, the token will be the subject of a dedicated trust by the firm Osprey, a declared competitor of Grayscale.
Grayscale is enjoying clear success in the crypto world. The company offers multiple investment products in the form of trusts. The first of these is the GBTC, the Grayscale Bitcoin Trust with over $ 35 billion in assets under management.
The company, therefore, offers several trusts corresponding to different cryptocurrencies on the market. But to date, Grayscale has not opened funds for DOT. It is different from its competitor Osprey.
A Polkadot trust, a vote of confidence
Very soon, investors will therefore be able to take stakes in the Osprey Polkadot Trust and thus gain exposure to DOT. This will only be accessible to accredited investors and for a minimum ticket of $ 25,000.
Note that the role of custodian for the fund will be provided by the essential Coinbase. For Osprey, it is about taking advantage of investor interest in cryptocurrencies and also differentiating itself from Grayscale.
“The appetite for next-generation crypto investment vehicles is only increasing,” said CEO Greg King. “Osprey is just getting started with a series of compelling investment funds that will provide access to some of the most interesting coins and tokens,” he announces.
DOT, therefore, belongs to this category. This is not yet the opinion of Grayscale, which ignores the token, including within the Large Cap Fund aggregating several cryptos. Polkadot nevertheless ranks 8e in capitalization, at 28 billion euros.
The promising future of the Polkadot network
For Osprey, interviewed by Cointelegraph, there is no doubt about the confidence in the project, even if it remains emerging. ” Our decision to launch a Polkadot trust is both a vote of confidence and a response to the market’s needs for access vehicles. We think Polkadot is very promising and is still in its early stages », confie King.
The investment specialist is not the only one to express his confidence in Polkadot and its potential in this way. At the end of February, FD7 Ventures announced the sale of $ 750 million worth of Bitcoin to invest in Cardano and Polkadot.
Cardano and Polkadot will likely have ” a significant impact on a global level “, Justified its leader. “Polkadot continues to build an ecosystem of ‘moonshot’ projects that enable a fully decentralized platform for Web3 where users are in control.”