Global asset manager Grayscale has announced the launch of two new investment trusts for NEAR Protocol (NEAR) and Stacks (STX), broadening its portfolio of single-asset cryptocurrency offerings. These trusts will be accessible to both institutional and individual accredited investors, providing new avenues for engagement with emerging digital assets.

Rayhaneh Sharif-Askary of Grayscale highlighted the company’s commitment to expanding access to innovative parts of the cryptocurrency ecosystem. The addition of NEAR and STX trusts complements Grayscale’s existing suite of single-asset products, which includes cryptocurrencies such as Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Zcash (ZEC).

This development follows Grayscale’s significant legal victory last year, which allowed the conversion of its Bitcoin trust into an exchange-traded fund (ETF). The ETF was launched earlier this year, amidst a competitive market of similar products. Grayscale is also in the process of seeking approval to convert its Ethereum trust, currently managing over $10.9 billion in assets, into a spot ETF.

In leadership news, Grayscale CEO Michael Sonnenshein has resigned and has been succeeded by Peter Mintzberg, a veteran from Goldman Sachs. This leadership change marks a new chapter for the company as it continues to navigate and expand in the rapidly evolving cryptocurrency landscape.