GlobeNewswire Inc | Nov 30, 2021 08:30AM EST

November 30, 2021

New York, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Grayscale Investments, the worlds largest digital currency asset manager, today announced the launch of Grayscale Solana Trust -- the sixteenth product in Grayscales suite of investment offerings.

The Trust is solely and passively invested in Solana (SOL), the native token of the Solana network, a smart contract platform first conceived in a 2017 whitepaper. Like the Ethereum network, the Solana network is one of a number of projects intended to expand blockchain use beyond just a peer-to-peer money system. The Solana protocol introduced the Proof-of-History (PoH) consensus mechanism as an alternative to pure Proof-of-Stake (PoS) and Proof-of-Work (PoW) blockchains.

For the last eight years, Grayscale has been at the forefront of offering investors efficient exposure to the ever-evolving digital currency ecosystem, said Grayscale CEO Michael Sonnenshein. We have had a front row seat to the mainstream acceptance and adoption of crypto, and increasingly find that investors are diversifying their exposure beyond digital assets like Bitcoin and Ethereum. Our family of Grayscale products will continue to expand alongside this exciting asset class, as we remain committed to offering investors opportunities to access the digital economy.

The Trust is now open for daily subscription by eligible individual and institutional accredited investors. The Trust functions the same as Grayscales other single-asset investment trusts.

Grayscales other single-asset investment products provide exposure to Bitcoin (BTC), Basic Attention Token (BAT), Bitcoin Cash (BCH), Chainlink (LINK), Decentraland (MANA), Ethereum (ETH), Ethereum Classic (ETC), Filecoin (FIL), Litecoin (LTC), Livepeer (LPT), Stellar Lumens (XLM), Zcash (ZEC), and Horizen (ZEN). Grayscale also offers eligible investors thematic exposure to digital assets through its diversified products, Grayscale Digital Large Cap Fund, which provides coverage of the upper 70% of the digital currency market by market capitalization, and Grayscale DeFi Fund, which provides exposure to a selection of industry-leading DeFi protocols through a market-capitalization weighted portfolio designed to track the CoinDesk DeFi Index.

Grayscale's investment products are available to institutional and individual accredited investors through their respective periodic private placements.

Certain Grayscale products are publicly-quoted on OTC Markets OTCQX Best Market. Shares of these products have become unrestricted in accordance with the rules and regulations of the SEC and may be bought and sold throughout the day via any brokerage account. These products include:

Grayscale Bitcoin Cash Trust (OTCQX: BCHG)Grayscale Bitcoin Trust (OTCQX: GBTC)Grayscale Digital Large Cap Fund (OTCQX: GDLC)Grayscale Ethereum Classic Trust (OTCQX: ETCG)Grayscale Ethereum Trust (OTCQX: ETHE)Grayscale Horizen Trust (OTCQX: HZEN)Grayscale Litecoin Trust (OTCQX: LTCN)Grayscale Stellar Lumens Trust (OTCQX: GXLM)Grayscale Zcash Trust (OTCQX: ZCSH)

Grayscale may attempt to have the shares of new products quoted on a secondary market. Although the shares of certain Grayscale products have been approved for trading on a secondary market, such as OTCQX, investors in a new product should not assume that the shares will ever obtain such an approval because of questions the SEC and/or FINRA may have regarding the status of the products underlying digital assets under the federal securities laws.

This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Each product offers a private placement to accredited investors. The investment objective of each product is for its Shares (based on digital assets per Share) to reflect the value of digital assets held by such product, determined by reference to the applicable TradeBlock index price or reference rate, less such products expenses and other liabilities.

To date, certain products have not met their investment objective and the Shares of such products quoted on OTCQX have not reflected the value of the digital assets held by such products, less such products expenses and other liabilities, but have instead traded at both premiums and discounts to such value, which at times have been substantial.

About Grayscale Investments

Founded in 2013, Grayscale Investments is the worlds largest digital currency asset manager, with more than $50.7B in assets under management as of November 26, 2021. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscales products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA/SIPC, MSRB Registered). For more information, please visit grayscale.com and follow @Grayscale.

Jennifer Rosenthalpress@grayscale.com