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Grayscale Investments, the world’s largest digital asset manager, announced it’s offering trusts to allow invest in five more cryptocurrencies on Wednesday.
- Three of the trusts will invest in tokens from oracle provider Chainlink, decentralized data storage provider Filecoin and decentralized video streaming network Livepeer.
- Another will allow investment in the Basic Attention Token aimed at the world of advertising, while the fifth will invest in MANA from Decentraland, a virtual-reality world.
- The firm had filed for the trusts in Delaware in late January, as CoinDesk reported at the time.
- We may soon see trusts for Aave, Cosmos, Polkadot, monero and Cardano if other filings are followed through.
- “At any one time, we’re probably maintaining a list of what could be 30 products, could be 40 products that we’re interested in bringing to market,” Grayscale CEO Michael Sonnenshein told Bloomberg.
- The new trusts are the firm's first additions since 2019, and come after Grayscale assessed both potential demand and did due diligence on the underlying protocols, per the report.
- While the five cryptocurrencies now supported for investment are not mainstream yet, Sonnenshein said many of Grayscale's trusts "have historically been a little bit before their time."
- New York-based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.
