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Grayscale introduces five New Investment Trusts

Grayscale introduces five New Investment Trusts

Grayscale Investments has launched five new altcoin trust funds of Chainlink, Basic Attention Token, Decentraland, Filecoin, and Livepeer for institutional investors. Grayscale enables investors to assign trust shares supported by few new tokens in LINK, BAT, MANA, FIL, LPT. The shares will have a lock-in period and are non-redeemable. It is similar to the other altcoin listings of Stellar, Zcash, and more. The asset management firm had revealed in a recent press release that it intends to add more altcoin-based investment products.

Depending on Grayscale Investments’ services, institutional investors would, consequently, have more excellent choices to decide from the five new product additions. The five new trusts are now open for daily subscription by qualified institutional and individual accredited investors. Additionally, clients are now capable of buying shares of the products via their individual ongoing and periodic private placements. Moreover, the trusts work like Grayscale’s other single-asset investment trusts like Grayscale Bitcoin Trust, Grayscale Bitcoin Cash Trust, Grayscale Ethereum Trust, Grayscale Litecoin Trust, Grayscale Ethereum Classic Trust, and Grayscale Digital Large Cap Fund.

Grayscale’s five New Altcoin Trust Experiences Surge in Prices

According to the reports, three of the funds will feature the individual cryptocurrencies Filecoin, Chainlink, and Livepeer. Another will incorporate Basic Attention Token, which runs on Ethereum. The fifth will fund in the coins of virtual-reality world Decentraland. The world’s biggest digital asset manager has taken some of the least favorite tokens from the list, like Livepeer, with a market capitalization of less than $500 million. Moreover, the price of individual cryptocurrencies had jumped about 40% on average. Livepeer’s LPT token was the most prominent winner, with a 100% surge within hours after the announcement. Also, others in LINK token grew by 8.23%, MANA by 30.75%, BAT 45.7%, and FIL by 32.1%.

Grayscale LLC now supports 13 cryptocurrency trusts, including Bitcoin, and possesses a total AUM (asset under management) of $42.9 billion. Moreover, the altcoin portfolio deems for approximately 16% of the total assets. Traditionally, Grayscale products have allowed investors to partake in the crypto market without genuinely having to buy any themselves. Grayscale’s other single-asset investment products involve trusts for Bitcoin (BTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), Horizen (ZEN), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), and Zcash (ZEC). 

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