Osprey Polkadot Trust Begins Trading as “ODOT,” Marking First Publicly Traded Polkadot Fund in US

Rhea-AI Summary

The Osprey Polkadot Trust (ODOT) has begun trading on the OTCQX market, marking it as the first U.S. public fund solely investing in the DOT token of the Polkadot network, which boasts a market capitalization exceeding $9.69 billion. Launched for private placement in April 2021, ODOT is now accessible to all U.S. investors through traditional brokerage accounts. The fund waives its management fee of 2.5% until at least January 1, 2023, enhancing investor access to this decentralized web initiative, spearheaded by Ethereum co-founder Gavin Wood.

Positive

• ODOT is the first U.S. fund to invest exclusively in DOT, increasing accessibility for investors.
• The fund is backed by reputable service providers like Coinbase and KPMG, boosting credibility.
• The management fee is waived for ODOT through at least January 1, 2023, reducing costs for investors.

Negative

• None.

With a market capitalization over $9.69 billion, Polkadot aims to create an entirely user-controlled, decentralized web

FAIRFIELD, Conn.--(BUSINESS WIRE)-- Osprey Funds, LLC, a premier crypto investment firm, today announced that the Osprey Polkadot Trust (ODOT) has commenced trading publicly via the OTCQX market. It is the first U.S. publicly traded fund to invest exclusively in DOT, the native token of the Polkadot network.

Developed by a world-class team and led by Ethereum co-founder Gavin Wood, Polkadot 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 capitalization over $9.69 billion.

“Polkadot is a groundbreaking project aimed to create a completely decentralized web where users are in control,” said 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 U.S. investors 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.

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

Osprey Funds is waiving ODOT’s 2.5% management fee through at least January 1, 2023. For additional information, please contact info@ospreyfunds.io.

About Osprey Funds

Osprey Funds is a premier crypto investment firm in the United States. Based in Connecticut, Osprey offers secure, transparent and cost-effective access to select currencies via traditional investment vehicles. Learn more by visiting https://ospreyfunds.io/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005252/en/

Media inquiries:

Gregory FCA for Osprey Funds

Jenna Silverblatt, 610-428-3296

osprey@gregoryfca.com

Investor inquiries:

Osprey Funds

IR@ospreyfunds.io

Source: Osprey Funds, LLC

FAQ

What is Osprey Polkadot Trust (ODOT)?

Osprey Polkadot Trust (ODOT) is the first U.S. public fund that invests exclusively in the DOT token of the Polkadot network.

When did ODOT start trading publicly?

ODOT commenced trading publicly on the OTCQX market recently, providing access to all U.S. investors.

What is the market capitalization of Polkadot?

Polkadot has a market capitalization exceeding $9.69 billion, showcasing its growth as a leading blockchain network.

Is there a management fee for ODOT?

Osprey Funds is waiving ODOT's 2.5% management fee through at least January 1, 2023, making it more cost-effective for investors.