Alternative Investments/Digital: Osprey Funds Launches Solana Fund On The OTCQB Market

Solana is said to be the world’s fastest blockchain.

Crypto asset manager Osprey Funds has launched the the Osprey Solana Trust (OSOL). The firm said earlier this month that the fund has commenced trading via the OTCQB market. OSOL is the first publicly traded fund based on the SOL token of the Solana network. (Businesswire)

Previously offered in a private placement in September 2021, OSOL is backed by Coinbase (NASDAQ: COIN) as custodian, Theorem Fund Services as fund administrator and KPMG as auditor. However, any US investor can now transact the fund on the OTCQB market through their brokerage and IRA accounts.

Crypto meltdown not an issue

“At Osprey, we believe crypto is ushering in generational changes in how human and financial capital come together to solve problems,” said Greg King, CEO of Osprey Funds. “Our view is long-term, and even with recent market pullbacks, now is not the time to stop building.”

“We applaud the projects and teams that continue to ‘eat glass’ throughout this difficult period and believe those persisting in their mission will emerge even stronger.”

High speed, low cost

With a market capitalization of over $13 billion, Solana is the fastest blockchain in the world. It was founded by Anatoly Yakovenko and Raj Gokal and is unique for its ability to process transactions at high speed and low cost.

“Solana has the potential to become the backbone of a financial system that scales globally, integrating asset prices across equities, bonds and many other asset classes,” added King.

“Our OSOL fund opens the door to mainstream investors, providing affordable access to one of the fastest growing developer communities in the world.”

Solana’s own mobile phone

Solana Labs CEO Anatoly Yakovenko announced Thursday at an event in New York the Solana mobile phone called “Saga.”

It is an Android handset and features a Web3 dapp (decentralized app) store, integrated “Solana Pay” to facilitate QR code-based on-chain payments, a mobile wallet adapter and a “seed vault” that will store private keys securely.

The phone is likely to be available in early 2023.

Related Story: Osprey Launches Investment Vehicle For The Algorand Blockchain

Image credit: Wikimedia Commons

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