Osprey Fund has introduced its fifth digital asset investment product – a Polygon trust that invests in MATIC, the native token of the Polygon network, the asset manager announced on Tuesday.

“Polygon is a disruptive layer-2 technology that gains from Ethereum’s secure network while mitigating common blockchain pain points, such as high gas fees and slow transactions,” Greg King, CEO of Osprey, said in a press release. “We’re excited to offer investors a new way to tap into the growing Ethereum market via the Osprey Polygon Trust.”
Osprey is a digital asset manager that’s part of a crop of new crypto funds aimed at serving institutional investors. Its Osprey Bitcoin Trust (OBT) is registered as an U.S. Securities and Exchange Commission reporting company and competes with the market-leading Grayscale Bitcoin Trust (GBTC), a fund that is owned by Digital Currency Group, CoinDesk’s parent company.
Publicly traded crypto exchange Coinbase is serving as the fund’s custodian. Theorem Fund Services will be the fund administrator, and Grant Thornton will be its auditor.
The trust is available to accredited investors with a $10,000 minimum investment, and Osprey plans to list the fund on the over-the-counter OTCQX exchange to remove fees on shares and open it up to retail investors.

RFK Jr. Says He's 'Fully Committed' to Bitcoin; Jersey City to Invest in Bitcoin ETFs

00:57

What Do EigenLayer's Outflows of $2.3B Signal?

04:20

What Do TradFi Crypto Moves Mean for Decentralization?

02:02

Marathon Digital Buys $100M BTC; India's Special Task Force for Crypto-Related Drug Trafficking

00:53

Ether Slides as Grayscale's ETHE Outflows Ramp Up

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Asset Manager Osprey Launches Polygon Fund

The fund will invest in Polygon’s native token, MATIC.

RFK Jr. Says He's 'Fully Committed' to Bitcoin; Jersey City to Invest in Bitcoin ETFs