Crypto asset manager Osprey Funds launches Polygon trust product
Crypto asset management firm Osprey Funds has launched a Polygon trust product for private placement.
The product will offer exposure to MATIC, the native token used on Polygon, an Ethereum Layer-2 blockchain network. Osprey said it is the first investment product in the U.S. to invest exclusively in MATIC. Osprey rival Grayscale recently said it is exploring to launch a trust product tied to MATIC but has yet to launch one.
The Osprey Polygon fund is currently available to accredited investors for subscription with a $10,000 minimum investment. The asset manager said it intends to pursue listing the fund on the OTCQX over-the-counter market “as soon as possible” and has also waived the 2.5% management fee for all investors until January 2023.
The Polygon fund is Osprey’s fifth trust product. The firm recently launched a Solana (SOL) trust and also offers products tied to bitcoin (BTC), Polkadot’s DOT, and Algorand’s ALGO tokens.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Yogita Khatri
