In a sign of the potential of DOT and the Polkadot blockchain, the token will be the subject of a dedicated trust from Grayscale’s declared competitor Osprey.
Grayscale is clearly successful in the crypto world. The company offers multiple investment products in the form of trusts. The first of these is GBTC, the Grayscale Bitcoin Trust with over $35 billion in assets under management.
The company thus offers several trusts corresponding to different cryptocurrencies in the market. But to date, Grayscale has not opened any funds for DOT. The same is not true of its competitor Osprey.
Very soon, investors will be able to take stakes in the Osprey Polkadot Trust and thus gain exposure to the DOT. This will only be accessible to accredited investors and for a minimum ticket of 25,000 dollars.
Note that the role of custodian for the fund will be provided by the inevitable Coinbase. For Osprey, it’s about taking advantage of investors’ interest in cryptocurrencies and also to differentiate itself from Grayscale.
“The appetite for next-generation crypto investment vehicles is only growing,” believes its 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.
So DOT falls into that category. That’s not yet the view of Grayscale, which is making a clean sweep of the token, including within the Large Cap Fund aggregating several cryptos. Polkadot is however ranked 8th in capitalization, at €28 billion.
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 need for access vehicles. We think Polkadot has a lot of promise and is still in its infancy,” King confides.
The investment specialist is not alone in expressing confidence in Polkadot and its potential. At the end of February, FD7 Ventures announced that it was selling $750 million worth of Bitcoin to invest in Cardano and Polkadot.
Cardano and Polkadot are likely to have “a significant impact globally,” its leader justified. “Polkadot continues to build an ecosystem of moonshot projects that enable a fully decentralized platform for Web3 where users are in control.