According to a press release, Grayscale Investments has added 5 new products to its Trusts offer. Expanding it to 14, Grayscale will have a Basic Attention Token, Chainlink, Decentraland, Filecoin, and Livepeer Trust.
Grayscale is one of the most important crypto investment firm. Eligible investors can now subscribe to the new trusts, they will operate as the firm’s other products with “periodic ongoing private placements”.
In the release, Grayscale claims their offer is among the first investment products based on the referred cryptocurrencies. The firm already offers trusts based on Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar Lumens, and other digital assets.
ANNOUNCEMENT: 5 new products have been added to the @Grayscale line up!
Basic Attention Token $BAT
Interested? https://t.co/YfK2YUKgCj pic.twitter.com/jLqDph4MEH
— Michael Sonnenshein (@Sonnenshein) March 17, 2021
Cryptocurrencies reached an inflection point
The trusts have been added after “a robust process” of research and assessment of the potential for each cryptocurrency, as CEO Michael Sonnenshein told Bloomberg. The executive claim they have a list of over 30 to 40 products which they “want to bring to the market”.
The firm works to “reconcile” investors’ interest in a cryptocurrency and “compelling opportunities”. Sonnenshein said:
There are many Grayscale products that have historically been a little bit before their time, before they began to resonate with investors sufficiently.
As per their latest report, Grayscale has over $42,9 billion assets under management. The Grayscale Bitcoin Trust (GBTC) remains the most important with $36 billion. Grayscale CEO added:
Digital currencies have reached an inflection point. Investor demand has never been higher, and every day we’re seeing new entrants to what has surely become a bona fide asset class. Grayscale has long been the leader in creating novel pathways for investors to access the opportunities that digital currencies may offer, and this announcement carries on that tradition. We look forward to working with our global investor base, our growing team, and regulators to continue to move this industry forward.
Grayscale products have been of the recipients of investors looking for crypto exposure. Almost all of the cryptocurrencies recently included are showing good performance after the announcement.
LINK (13%) native token of the Ethereum-based oracle service Chainlink, FIL (35%) Filecoin’s token use to pay to store files, BAT (31.1%) a token that enables users to track their interest in properties store digitally, MANA (11.1%) Decentraland’s token utilized to acquire virtual land have been on the green zone in the last 24 hours.
However, Livepeer (LTP), a network for content delivery, has seen the biggest gains. With more than 183% in profits over the past day and 414.9% in the last two weeks.
This post was originally published on www.newsbtc.com