Grayscale Adds Five New Crypto Investment Trusts including One for Chainlink and Filecoin
Nicholas Otieno Mar 18, 2021 03:54
Grayscale Investments has expanded its product line by launching new investment trusts including Chainlink, Filecoin, and Basic Attention Token.
Grayscale Investments LLC. crypto asset management company has announced the launch of five new cryptocurrency investment trusts. The new trusts include Grayscale Livepeer Trust, Grayscale Filecoin Trust, Grayscale Decentraland Trust, Grayscale Chainlink Trust, and Grayscale Basic Attention Token Trust.
The firm is offering new trusts to invest particularly in five different cryptocurrencies. The trusts are delving into the niche corners of the crypto universe. Three of the funds will invest in cryptocurrencies Livepeer, Filecoin, and Chainlink. While the fourth fund will hold Basic Attention tokens that run on the Ethereum network, the fifth one will invest in coins of virtual-reality world known as Decentraland.
In other words, each of the trusts are among the first investment products solely invested in the cryptocurrencies underpinning Livepeer (LPT), Filecoin (FIL), Decentraland (MANA), Chainlink (LINK), and Basic Attention Token (BAT).
Institutional investors depending on the services of Grayscale Investments would therefore have greater options to choose from the five new product additions.
The five new trusts are already open for daily subscription by eligible institutional and individual accredited investors. Clients are now able to buy shares of the products through their respective ongoing and periodic private placements.
The trusts function as the same as Grayscale’s other single-asset investment trusts such as Grayscale Bitcoin Trust, Grayscale Ethereum Trust, Grayscale Bitcoin Cash Trust, Grayscale Ethereum Classic Trust, Grayscale Litecoin Trust, and Grayscale Digital Large Cap Fund.
Grayscale’s Bid to Keep Ahead of Competition
The developments come at a time when the New York-based company announced late last month that it is considering several new digital assets for potential new products to meet the rising investor demands. Based on the announcement made in late February this year, Grayscale revealed a shortlist of digital assets that it was considering to choose from to create new investment products.
Grayscale Investments has become one of the most vital participants in the crypto markets. In light of the increasing competition in the field and the success of the company’s existing products, the world’s largest cryptocurrency manager is eyeing new ones to bring to its clients.
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