{"id":6422,"date":"2019-01-18T11:04:21","date_gmt":"2019-01-18T11:04:21","guid":{"rendered":"https:\/\/forklog.media\/?p=6422"},"modified":"2019-01-18T11:04:21","modified_gmt":"2019-01-18T11:04:21","slug":"grayscale-investments-adds-stellar-to-its-cryptocurrency-investment-portfolio","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscale-investments-adds-stellar-to-its-cryptocurrency-investment-portfolio\/","title":{"rendered":"Grayscale Investments Adds Stellar to Its Cryptocurrency Investment Portfolio"},"content":{"rendered":"<p>Digital currency investment group Grayscale, the company behind the Bitcoin Investment Trust, announced the launch of Stellar Lumens Trust, a \u201csingle-asset investment product\u201d which exposes investors to lumens (XLM), the native asset of the Stellar network.<!--more--><\/p>\n<p>The newly-launched Stellar Lumens Trust is Grayscale\u2019s ninth-single asset product. Others include its flagship Bitcoin product, as well as funds for Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), XRP, and Zcash (ZEC).<\/p>\n<p>Stellar is a platform that connects financial institutions, payment systems, and people around the world. The platform is designed to provide low-cost financial services to fight poverty and income inequality and foster individual growth. Founded by Jed McCaleb, the Stellar project has notably attracted the interest of IBM, which is building a cross-border payment rail on top of the network.<\/p>\n<p>Speaking to <a href=\"http:\/\/fortune.com\/2019\/01\/17\/stellar-lumens-grayscale\/\" target=\"_blank\" rel=\"noopener\">Fortune<\/a>, managing director Michael Sonnenshein said the latest addition had arisen from investor demand to gain exposure to XLM\u2019s price movements.<\/p>\n<blockquote><p><strong>\u201cI think the theory is a sound one. An American bank may be keeping large amounts of currencies in foreign banks, and to be able to bring those balances of foreign currencies onto a balance sheet as working capital is valuable,\u201d <\/strong>he said.<strong> \u201cFinancial institutions won\u2019t be required to hold balances all over the place. This will improve efficiency and shore up balance sheets for other uses.\u201d<\/strong><\/p><\/blockquote>\n<p>Grayscale, which is operating under the <a href=\"http:\/\/forklog.media\/tag\/dcg\/\" target=\"_blank\" rel=\"noopener\">Digital Currency Group<\/a> umbrella, \u201cwill continue to provide investors access to established blockchain projects with substantial traction and resources,\u201d he said.<\/p>\n<p>Additionally, the company announced changes to the names of its single-asset products.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">2\/ Second, we have renamed all of our single-asset Trusts. The public quotation symbols remain <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$GBTC<\/a> for Grayscale Bitcoin Trust and <a href=\"https:\/\/twitter.com\/search?q=%24ETCG&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETCG<\/a> for Grayscale Ethereum Classic Trust. For more info, check out our press release: <a href=\"https:\/\/t.co\/UQTVDZUPnD\">https:\/\/t.co\/UQTVDZUPnD<\/a> <a href=\"https:\/\/t.co\/ksAPHpK1fG\">pic.twitter.com\/ksAPHpK1fG<\/a><\/p>\n<p>\u2014 Grayscale (@GrayscaleInvest) <a href=\"https:\/\/twitter.com\/GrayscaleInvest\/status\/1085904499644846080?ref_src=twsrc%5Etfw\">January 17, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Grayscale\u2019s announcement comes on the heels of it reassuring existing customers that an investment vehicle for Ethereum Classic was not in any danger after the <a href=\"http:\/\/forklog.media\/ethereum-classic-developers-hope-to-get-a-full-picture-of-a-potential-51-attack-soon\/\" target=\"_blank\" rel=\"noopener\">recent 51 percent attack<\/a> on the network.<\/p>\n<p>Follow ForkLog on <span style=\"text-decoration: underline;\"><a href=\" https:\/\/twitter.com\/forklog_en\/\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a><\/span> and <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.facebook.com\/forklogen\/\" target=\"_blank\" rel=\"nofollow noopener\"> Facebook<\/a><\/span>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital currency investment group Grayscale, the company behind the Bitcoin Investment Trust, announced the launch of Stellar Lumens Trust, a \u201csingle-asset investment product\u201d which exposes investors to lumens (XLM), the native asset of the Stellar network.<\/p>\n","protected":false},"author":1,"featured_media":6425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"human_written","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[184,943,52,243],"class_list":["post-6422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dcg","tag-grayscale-investments","tag-investments","tag-stellar"],"aioseo_notices":[],"amp_enabled":true,"views":"318","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/6422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=6422"}],"version-history":[{"count":2,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/6422\/revisions"}],"predecessor-version":[{"id":6426,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/6422\/revisions\/6426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/6425"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=6422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=6422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=6422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}