Tag - Grayscale

Grayscale Investment announces five new digital asset trusts

Digital currency investment firm Grayscale has announced the launch of five new digital asset trusts. Grayscale launched a series of new digital asset trusts to the market, reportedly offering investors more diversification options. The U.S.-based cryptocurrency asset manager previously offered nine investment products, and the latest additions will bring the total number to 14. The new digital currency investment trusts are slightly different from other Grayscale products, as they include alternative digital assets such as Filecoin, Decentraland, Livepeer, and Basic Attention Token.

All five trusts are currently open for subscription daily to retail and institutional investors who meet the eligibility criteria. The company’s CEO, Michael Sonnenshein, cited increasing investor demand for diversification as the reason for launching the new trusts.

“Investor demand has never been higher, and we see new entrants every day in what has certainly become a real asset class,” he said.

Sonnenshein explained that investors were looking to invest in trusts other than the renowned Grayscale Bitcoin Trust (GBTC). According to Bank of America, the trust debuted in 2013 and has become the most prominent public holder of bitcoins. This allows investors to take exposures to bitcoin without having to hold the actual asset. This way, they don’t have to worry about security or custody issues.

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