Here is some good news for crypto investors! Grayscale investments – inventors of the most lauded Bitcoin Investment Trust recently announced the launch of an additional 4 trusts. This has successfully doubled the products’ quantity which targets specifically to the interested or would be crypto investors.
The company’s Digital Large Cap Fund, an investment fund for various altcoins has been extended to the following:
- Ethereum Classic Investment Trust
- Ripple Investment Trust
- Bitcoin Cash Investment Trust
- Litecoin Investment Trust
The official account of Grayscale recently tweeted:
Greyscale currently holds investment funds for 7 currencies, namely, Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH], Ethereum Classic [ETC], Litecoin [LTC], Ripple [XRP], and Zcash [ZEC].
Michael Sonnenshein, the Managing Director of Grayscale explains:
“These new products form part of a suite that they intend to expand in the future with both diversified and single currency opportunities.”
He continues to say:
“the company believes in altcoins, as a class of assets in their own right – have not just arrived, but have established themselves.”
Grayscale is committed to giving their investors a suitable structure allowing them to participate in the new asset class. This is the first time the company has allowed individual investment opportunities.
Probably a year ago, they were responsible for $208 million worth assets, which have currently exploded to roughly $2.1 billion. They have expanded their horizons to 7 individual investment products which they believe is a meaningful milestone.
Michael also stated:
“We are thrilled to expand Grayscale’s offerings to meet rising investor demand”
According to the press release, they have marked themselves as the first securities of the products allowing investments in Ripple, Litecoin, Ethereum Classic and Bitcoin Cash.
The manager continued to state:
“Our team is committed to bridging the gap between the global investment community and the digital currency asset class.”
The new trusts will be offered in a private placement to accredited investors whose minimum purchase value sums up to $10,000 worth shares, submitted to a one-year vesting period.
While some speculators are still not sure about this whole idea, Genter, an investor asks:
“Hello! What is the benefit of investing in grayscale fund instead of holding bitcoin directly?”
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