In a strategic move to expand its portfolio, Grayscale Investments, a prominent cryptocurrency asset manager and ETF provider, has introduced the Grayscale Avalanche Trust, adding to its growing array of digital asset investment products. This latest offering, announced Thursday, grants investors direct exposure to the AVAX token, which powers the Avalanche blockchain—an ultra-scalable, high-speed network positioned as a formidable competitor to Ethereum.

Since the beginning of the year, interest in publicly tradeable cryptocurrency products has surged, particularly following the Securities and Exchange Commission’s (SEC) approval of the first Bitcoin (BTC) ETFs for U.S. markets. Grayscale, a cornerstone of the Digital Currency Group, has been at the forefront of bringing digital assets to traditional investors, most notably through its pioneering Bitcoin Trust, which has evolved into one of the earliest ETFs post-approval. Building on this success, the firm recently elevated its Grayscale Ethereum Trust (ETHE) to an ETF format.

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Under the fresh leadership of CEO Peter Mintzberg, a former Goldman Sachs executive who assumed the role just last week, Grayscale now offers an impressive portfolio exceeding 20 crypto investment products. Recently, the asset manager has zeroed in on decentralized artificial intelligence (AI), launching an AI-focused digital asset trust alongside two single-asset funds: the Grayscale Bittensor Trust, holding TAO tokens, and the Grayscale Sui Trust, dedicated to SUI tokens.

“Avalanche, with its unique multi-chain structure and strategic alliances, is at the forefront of the real-world asset (RWA) tokenization revolution,” remarked Rayhaneh Sharif-Askary, Grayscale’s Head of Product and Research, underscoring the blockchain’s pivotal role in enabling on-chain trading of real-world assets.

As of the time of writing, the AVAX token was trading at approximately $23, reflecting its growing significance in the evolving digital landscape.