Home etfexpress.com Osprey Polkadot Trust begins trading in the US

Osprey Polkadot Trust begins trading in the US

US-based crypto fund issuer Osprey Funds, LLC has announced that the Osprey Polkadot Trust (ODOT) has commenced trading publicly via the OTCQX market.

The firm writes that it is the first US publicly traded fund to invest exclusively in DOT, the native token of the Polkadot network.

The firm says that Polkadot was developed by a world-class team, led by Ethereum co-founder Gavin Wood and is the base layer protocol that enables developers to build Web 3.0 with scalability, security, self-governance, and interoperability. It is one of the fastest-growing blockchain networks in the world with a market capitalisation over USD9.69 billion, the firm says.

“Polkadot is a groundbreaking project aimed to create a completely decentralised web where users are in control,” says Greg King, CEO of Osprey Funds. “While DOT access was previously limited, ODOT allows more investors to conveniently, securely and cost-effectively tap into this innovative cryptocurrency.”

Originally launched in April 2021 for private placement, the Osprey Polkadot Trust is now accessible to all US investors through traditional brokerage and IRA accounts. The firm writes that the fund is backed by best-in-class service providers, including Coinbase as custodian, Theorem Fund Services as fund administrator and KPMG as auditor.

In addition to ODOT, Osprey Funds offers the Osprey Bitcoin Trust (OBTC), which it describes as the lowest-cost publicly traded bitcoin fund in the US, as well as the Osprey Algorand Trust, the Osprey Polygon Trust, the Osprey Solana Trust and the Osprey BNB Chain Trust for accredited investors.

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