Grayscale Announces Five New Digital Currency Investment Trusts

Grayscale Investments

Long Beach (CoinChapter): Grayscale Investments announced the launch of five new digital currency investment trusts today. The world’s largest digital currency asset manager now has a total of 14 investment products. The five new trusts announced are the Grayscale Basic Attention Token Trust, Chainlink Trust, Decentraland Trust, Filecoin Trust, and Livepeer Trust. All five are now open for daily subscription by the eligible individual and institutional accredited investors.

Grayscale CEO Michael Sonnenshein released a statement on the announcement. “Digital currencies have reached an inflection point. Investor demand has never been higher, and every day we’re seeing new entrants to what has surely become a bona fide asset class. Grayscale has long been the leader in creating novel pathways for investors to access the opportunities that digital currencies may offer, and this announcement carries on that tradition. We look forward to working with our global investor base, our growing team, and regulators to continue to move this industry forward.”

These new trusts will function just like Grayscale’s other single-asset investment trusts. Each of the trusts are also among the first investment products solely invested in the digital currencies. Those other trusts offer exposure to the likes of Bitcoin, Ethereum, and Litecoin among others.

The announcement for these trusts had a major impact on the prices of these digital currencies as well. Livepeer has been the biggest beneficiary, rising nearly 120% at the time of writing. Additionally, the Basic Attention Token is up nearly 40% while Filecoin has risen more than 30%. Chainlink is also up over 10% while Decentraland is the only currency not to rise, dropping by around 3%.

Grayscale Attempts New Product Shares Quoted On Secondary Market

Grayscale added they intend to attempt to have shares of new products quoted on a secondary market. There is no guarantee however, that they will be successful in doing so. Grayscale added that investors in the new products should not assume that the shares will ever obtain such an approval. Reasons why include questions regulators such as the SEC, FINRA or other regulatory bodies may have regarding such products.

Due to all of this, Grayscale notes that shareholders of such products should be prepared to bear the risk of investment in the shares indefinitely.

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