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Grayscale offers new crypto funds for Ripple [XRP], Litecoin [LTC], Ethereum Classic [ETC] & Bitcoin Cash [BCH]

Sthuthie Murthy

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Grayscale offers new crypto funds for Ripple [XRP], Litecoin [LTC], Ethereum Classic [ETC] & Bitcoin Cash [BCH]
Source: Pexels

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:

Grayscale's Tweet

Grayscale’s Tweet

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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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Altcoins

Tron DApp Weekly Report: Gambling apps leads the surge in Tron DApp numbers

Namrata Shukla

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Tron DApp Weekly Report: Tron DApps number led by Gambling apps
Source: Pixabay

Tron, the eleventh largest cryptocurrency on CoinMarketCap, recently collaborated with Bitpie, a partnership that would help startups to bridge the gap in vulnerable financial systems. Tron’s token might be lagging in terms of performance in the market but, Tron DApps continued to surge.

The DApp weekly report released by the Tron Foundation reported an increase of 22 DApps in the Tron ecosystem, taking the total to 392. It noted that gambling DApps mainly contributed to this growth as 17 DApps were gambling-based. Decentralized exchanges followed suit, as 3 new DApps made their way into the Tron DApp ecosystem. The main highlight for the entire Tron community was the partnership with Opera, a mainstream browser.

Tron introduced a DApp ‘Lucky Moon,’ an entertainment-based DApp that pushes users to estimate the current time to run away from the imploding rocket with a specific reward rate. As the rocket takes-off, the reward rate keeps increasing and the player will have to escape at the right time. An extension of this game is ‘Tyrant Annihilation,’ where users need to collect seven types of equipment to kill a tyrant. The DApp might have taken inspiration from The Avengers.



The report made note of the fact that the Tron public chain received support from Aocoin wallet, a decentralized secure digital currency wallet. My Token, a software company that specializes in market information has been integrated into Tronscan and TRX market, leading the way to user traffic in DApps ecosystem.

At press time, Tron was valued at $0.0283 with a market cap of $1.89 billion. The 24-hour trading volume of the coin was noted to be $690.34 as it reported 6.36% growth over the past day. The coin grew by 8.80% over the past seven days, but fell by 0.44% in an hour.





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