Osprey Funds launches Polygon-based trust

Digital asset manager Osprey Funds has launched a Polygon cryptocurrency-based trust (MATIC), according to a press release.

The new financial instrument is available to accredited US market participants. The minimum threshold for investment is $10,000.

According to the company's representatives, this is the first Polygon-based product of its kind in the US. The trust's securities will appear on the OTCQX, managed by OTC Markets Group, "in the near future".

Investors will not be charged a 2.5% management fee until January 2023.

Polygon (MATIC) has a market capitalisation of $7.6bn and is ranked number 23 by CoinGecko. MATIC has fallen in price by 6.2% over the past 24 hours amid a general market decline.

As a reminder, Osprey Funds applied to the SEC in July for registration of a bitcoin trust.