DOT over-the-counter? Osprey Funds set to launch Polkadot funding belief

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In a market as soon as dominated by a handful of BTC automobiles, there are actually a rising variety of merchandise providing buyers entry to beneficial properties from standard altcoins like Polkadot. 

Yesterday, Osprey Funds introduced the launch of the Osprey Polkadot Belief. The fund, which shall be obtainable to accredited buyers with a $25,000 minimal, is ready to be listed on the OTCQX market “as quickly as doable,” per a press launch from the corporate. Coinbase will function the fund’s custodian. 

The fund will give buyers entry to one of many largest layer one sensible contract chains through acquainted rails, and joins a growing list of digital assets equity investors can now achieve publicity to.

“The urge for food for subsequent era crypto funding automobiles is just rising,” mentioned Osprey CEO Greg King. “Osprey is simply getting began on a collection of compelling funding funds that may present entry to a number of the most fun cash and tokens.”

Osprey has positioned itself as a competitor to investment giant Greyscale, which at the moment gives 14 digital asset funding trusts, per the Greyscale web site. Osprey’s OBTC fund boasts a .49% administration price, which they declare makes it the “lowest-cost publicly traded bitcoin fund within the U.S.”

The selection to supply a Polkadot fund could also be in an effort to achieve an edge on Greyscale. DOT is just not among the many property Greyscale gives funds for, and it isn’t a part of the “Massive Cap” belief regardless of being the fourth-largest layer one sensible contract token by marketcap, that means Osprey could also be catering to a market demand that isn’t presently serviced.

King advised Cointelegraph that the choice to supply a DOT fund was half a vote of confidence within the rising ecosystem, in addition to an effort to supply a wider vary of digital asset funding automobiles.

“Our determination to launch a Polkadot belief subsequent is each a vote of confidence and in addition addresses the market’s want for entry automobiles. We imagine Polkadot reveals important promise and remains to be within the very early levels. Each product we launch shall be one thing the Osprey crew has researched and believes is a sustainable crypto undertaking with important funding potential,” he mentioned.

Polkadot is among the many rising variety of non-Ethereum chains which have been seeing a spike in organic developer activity. Earlier this month six prime ecosystem initiatives joined together to create an index token, PINT, and Clover Finance made DeFi migration easier with an Ethereum-to-Polkadot bridge.