The investment firm Grayscale expanded its offer of funds for its clients, with the opening of new products based on the cryptocurrencies Chainlink (LINK), Basic Attention Token (BAT), Filecoin (FIL), Decentraland (MANA) and livepeer (LPT). ).
Via a press release, the company announced the launch of these new investment funds in cryptocurrencies. Said funds they work the same as those of the other cryptocurrencies already existing in their offer, exposes Grayscale in the text.
Now, the firm offers exposure to a total of 13 cryptocurrencies, adding their investment funds in bitcoin (BTC), ether (ETH), bitcoin cash (BCH), ethereum classic (ETC), horizen (ZEN), litecoin (LTC), stellar lumens (XLM) and zcash (ZEC). Additionally, they have a mixed fund, called Grayscale Digital Large Cap Fund, which allows you to invest in a basket of assets with the highest market capitalization.
Regarding the new coins included, the company ensures that it is a response to the growing demand from investors for more options in the world of cryptocurrencies.
‘Digital currencies have reached a tipping point. Investor demand has never been higher, and we see new entrants every day, “said Michael Sonnenshein, CEO of Grayscale.
Some big cryptocurrencies and a particular case
Among the new currencies that arrive at this digital asset manager, LINK stands out, the token of the Chainlink oracle network, which runs on the Ethereum blockchain. This cryptocurrency is currently in the top 10, according to market capitalization.
For its part, FIL is among the 20 most valuable assets on the market today. Among the top 60, we find BAT, the rewards token of the Brave browser; and MANA, from the virtual reality platform on Ethereum, Decentraland.
Perhaps the most curious case is the arrival of LPT to Grayscale, as it is a little-known cryptocurrency. The token of the Livepeer network, platform for videos and live broadcasts, it does not even appear among the 200 with the largest market capitalization.
Of the 5, the cryptocurrency with the greatest reaction to the news has been precisely LPT. In just 24 hours, it has doubled in price and exceeds $ 15 per unit, a new all-time high. BAT (40% above), FIL, which has risen more than 30%; Y LINK (up 9%), they have also quickly benefited from the market.
WHEREOn the contrary, he has not reacted positively to his arrival at Grayscale. The Decentraland token has fallen 3.5% in the last 24 hours, although in a range of one week its price rose about 80%, according to data from CoinMarketCap.
The timing of institutional investments in bitcoin and other cryptocurrencies
It is increasingly common for a company to decide to invest millions of dollars in the cryptocurrency market. This occurs mainly with bitcoin, the main cryptocurrency in the market, already recognized by many figures in the financial world as a good value store option, even compared to gold.
But that wave of investments has begun to overflow from the pioneering cryptocurrency towards the so-called altcoins, with some companies beginning to invest in Ethereum and other cryptocurrencies as well, as recently reported by CryptoNews.
Grayscale’s crypto fund has been growing with that same wave and exceeded $ 36 billion in assets under its custody. For this reason, this expansion in their offer is not strange, something that they have been constantly evaluating, beyond having closed their fund in ripple (XRP) at the beginning of the year.
The firm had already announced the arrival of some of these cryptocurrencies, registering six new funds with US authorities. From that list, only the tezos investment fund (XTZ) would be open.
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Grayscale opens investment funds in BAT, Chainlink and 3 other cryptocurrencies