Avalanche (AVAX) is on the rise, thanks to a new trust launched by crypto giant Grayscale.
Grayscale’s Avalanche Trust
Grayscale, known for its Bitcoin Trust, has now added Avalanche to its portfolio. They believe Avalanche is a key player in bringing real-world assets (like stocks and bonds) onto the blockchain. This new trust will invest solely in AVAX tokens, similar to their other single-asset trusts.
More Than Just Grayscale
Grayscale’s launch wasn’t the only reason for AVAX’s jump. Franklin Templeton, a major investment firm, is expanding its on-chain money market fund, FOBXX, to the Avalanche network. This fund is already available on other blockchains like Arbitrum, Polygon, and Stellar.
What Does This Mean for AVAX?
Both Grayscale’s trust and Franklin Templeton’s expansion show that big players are taking notice of Avalanche. This could lead to increased adoption and more development on the Avalanche network.
Important Note: This information is for general knowledge only and is not financial advice. Always do your own research before investing in cryptocurrencies.
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