Grayscale Investments Unveils New Fund Targeting Avalanche; Franklin Templeton Expands Offerings on Same Network

Grayscale Investments, the world’s largest crypto asset manager launched a new investment fund focused on Avalanche's native token, AVAX. This brings its current suite of crypto products to over 20, in line with its broader strategy of providing specialized investment options following recent launches focusing onMakerDAO, Bittensor, and Sui.

The Grayscale Avalanche Trust provides investors with exposure to Avalanche, a layer-1 blockchain network designed for scalability, security, and decentralization, with a particular focus on real-world asset tokenization.

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Grayscale remains the largest crypto fund manager globally, managing over $25 billion in assets. “The launch of Grayscale Avalanche Trust highlights Grayscale’s ongoing commitment to providing investors with innovative opportunities to access exciting developments in the crypto ecosystem.

"Through its key strategic partnerships and unique, multi-chain structure, Avalanche is playing a pivotal role in the advancement of RWA tokenization," said Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary.

At the same time, another major tradfi institution, Franklin Templeton also announced its expansion to the Avalanche blockchain. The firm is bringing its Onchain U.S. Government Money Fund (FOBXX) to the Avalanche blockchain and was the first U.S.-registered mutual fund to utilize blockchain for recording of ownership when it first launched in 2021.

I’m thrilled to see the Avalanche platform supporting the Franklin OnChain U.S. Government Money Fund," said John Wu, President at Ava Labs in the blog post.

Customers can now invest in the fund using digital wallets on the Avalanche network via Franklin Templeton's Benji investment platform. Additionally, eligible institutional investors have the option to manage their wallets on the AVAX network.

“Bringing the Benji platform to the Avalanche network further expands access to our first-of-its-kind tokenized money market fund,” Roger Bayston, head of digital assets at Franklin Templeton, said in the same post.