Osprey Funds launches Osprey Polkadot Trust
Digital investment specialist Osprey Funds has announced the launch of the
Osprey Polkadot Trust for private placement.
The Trust invests exclusively in DOT, the native token of the Polkadot network. With a market capitalisation over USD31 billion, DOT is the eighth largest cryptocurrency and one of the fastest-growing blockchain networks in the world.
“Polkadot is an amazing platform focused on enabling Web 3.0,” says Greg King, CEO of Osprey. “With limited access points to investing in DOT currently, the Osprey Polkadot Trust will enable accredited investors who want DOT exposure to get titled, auditable ownership through a US-based investment vehicle.”
To support the product, Osprey has established relationships with best-in-class service providers, including Coinbase, which will serve as the fund’s custodian.
“The appetite for next generation crypto investment vehicles is only increasing,” adds King. “Osprey is just getting started on a series of compelling investment funds that will provide access to some of the most exciting coins and tokens.”
The Osprey Polkadot Trust is currently available to accredited investors for subscription with a USD25,000 minimum investment. The sponsor intends to pursue listing the fund on the OTCQX market as soon as possible and has also agreed to waive the management fee for all investors until January 2023.
This is Osprey’s second investment fund. Osprey also offers the Osprey Bitcoin Trust (OBTC), the lowest-cost publicly traded bitcoin fund in the US with an annual management fee of just 0.49 per cent.