Osprey Funds, LLC, a premier crypto investment firm, has announced that the Osprey Solana Trust (OSOL) has commenced trading publicly via the OTCQB market.
This is the first publicly-traded fund in the US based on the native token of the Solana network, SOL, the firm writes.
Osprey writes that Solana, founded by Anatoly Yakovenko and Raj Gokal, is the fastest blockchain in the world with a market capitalisation of over USD13 billion. This protocol introduced a hybrid consensus mechanism of Proof of Stake combined and enhanced by Proof of History, which has a unique method of ordering transactions that drastically improves speed at a low cost.
“The speed of the Solana network is amazing and the Solana team’s dedication to their mission is inspiring. 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,” says Greg King, CEO of Osprey Funds. “Our OSOL fund opens the door to mainstream investors, providing affordable access to one of the fastest growing developer communities in the world.”
Originally opened for private placement in September 2021, OSOL is now accessible to all US investors via the OTCQB market through traditional brokerage and IRA accounts. The fund is backed by best-in-class service providers, including Coinbase as custodian, Theorem Fund Services as fund administrator and KPMG as auditor.
“At Osprey, we believe crypto is ushering in generational changes in how human and financial capital come together to solve problems,” says King. “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.”