Osprey Funds LLC is launching Osprey Polkadot Trust, enabling users to invest exclusively in DOT, the Polkadot network’s native token. To support the platform, Osprey has partnered with Coinbase, which will serve as the fund’s custodian.
Osprey Unveils Its Second Fund For Accredited Investors
Osprey Funds LLC, a digital investment specialist, and the team behind the Osprey Bitcoin Trust (OBTC), have launched the market’s first Polkadot-specific offering. The first of its kind, Osprey Polkadot Trust provides accredited investors with a simple and cost-effective means of acquiring DOT, Polkadot’s native token.
DOT is one of the world’s fastest-growing blockchain tokens, with a market cap of over $31 billion, ranking among the top ten cryptocurrencies at present. The Polkadot network enables Web 3.0 access while maintaining interoperability, scalability, customizability, security, and self-governance.
Osprey has partnered with many business leaders and renowned service providers to ensure a smooth experience for Polkadot Trust holders, including Coinbase, which will serve as the fund’s custodian. The fund is intended to monitor the price of the DOT tokens and provide investors with direct ownership over them.
The Osprey Polkadot Trust, which is currently accepting accredited investors with a minimum investment of $25,000, aims to revolutionize blockchain networks and restore ownership to individuals. At the earliest opportunity, the company plans to list the funds on the OTCQX exchange. Osprey Funds has also agreed to waive its 2.5% management fee until at least January 2023 in order to draw investors.
Through its Bitcoin investment product, the Osprey Bitcoin Trust (OBTC), Osprey Funds has already established itself as a market leader in the specialty digital asset management industry. The Trust charges a 0.49% management fee, making it the lowest-cost publicly traded bitcoin investment available in the US market today.
Greg King, CEO of Osprey, remarks, “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 U.S.-based investment vehicle.” He further adds, “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.”