Exciting news for those tempted to invest in cryptocurrencies, as Grayscale Investments – founders of the much-lauded Bitcoin Investment Trust – has recently announced that it has launched an additional four trusts, which has effectively doubled the number of products it provides that are specifically aimed at the would be crypto investor.
Grayscale already had trusts in place for Bitcoin, zCash, and Ethereum Classic, as well as an investment fund for multiple altcoins (the company’s Digital Large Cap Fund). To this foundation it has now added trusts for Bitcoin Cash, Ripple, Litecoin and Ethereum.
Of course, Grayscale has already had dealings with all four of these digital currencies, as they formed part of their Digital Large Cap Fund, but this announcement marks the first time that the company has made them available as individual investment opportunities.
Grayscale’s managing director, Michael Sonnenshein, explained that these new products form part of a suite that they intend to expand in the future with both diversified and single currency opportunities.
He went on to say that the company believes that altcoins, as a class of assets in their own right – have not just arrived, but have established themselves. He stated that Grayscales are committing to giving their investors a suitable structure that will allow them to take part in this new asset class.
As little as a year ago, Grayscale was managing some $208 million in assets but, at the time of writing, that has exploded to over $2.1 billion. This time last year, the only cryptocurrency product that the company had available for investors was the Bitcoin Investment Trust and now they have expanded their horizons to eight separate investment products, a figure that Sonnenshein has termed a “meaningful milestone”.
According to Grayscale Industries’ press release, these products mark themselves among the first securities which allow investment in Ripple, Litecoin and Bitcoin Cash.
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