Just-In: Grayscale Adds Five New Tokens To Its Investment Products

Anvesh Reddy
May 16, 2022 Updated July 18, 2022
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Grayscale Ethereum Trust Arkham Report

The Grayscale Bitcoin Trust (GBTC) on Monday announced the addition of five new tokens to its investment products. The new tokens have begun trading in the markets, taking Grayscale’s total number of products offered to 14 now.

The new token additions are Grayscale Basic Attention Token Trust (GBAT), Grayscale Chainlink Trust (GLNK), Grayscale Decentraland Trust (MANA), Grayscale Filecoin Trust (FILG) and Grayscale Livepeer Trust (GLIV). The digital currency asset manager offer investors comprehensive exposure to the cryptocurrency market.

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Grayscale’s Leadership In Crypto

The token addition comes at a time when the cryptocurrency market witnessed massive hit. In the space of one week, Terra’s UST crash resulted in a wider market damage. While making the announcement on Monday, Grayscale asserted its leadership in the space saying:

“Sometimes leadership means moving against the tide. With our current and future offerings, we hope to offer discerning investors the tools to build a diversified digital asset portfolio.”

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ETF Conversion Goal

Craig Salm, Grayscale’s chief legal officer, said,

“Today’s announcement reaffirms Grayscale’s commitment to moving all of our digital currency investment products through our intended four-phase product lifecycle, with the intention of ultimately converting each into an ETF. We believe that investors deserve access to the digital currency ecosystem through secure products”

Earlier in the day, Grayscale said it is launching several new European-listed products as part of its cross-Atlantic debut. The ETF will be Grayscale’s first European fund to be listed on the London Stock Exchange, Borsa Italiana, and Deutsche Börse Xetra. Moreover, the  ETF will be available to trade across Europe.

Grayscale, the world’s largest asset management firm, wants to partner with investors in deploying capital into cryptocurrencies. The firm’s single-asset investment products provide exposure to many cryptocurrencies apart from Bitcoin. Others include Bitcoin Cash, Ethereum, Ethereum Classic, Horizen, Litecoin, Solana, Stellar Lumens, and Zcash.

It also offers investors exposure to digital assets through its diversified products, Grayscale Digital Large Cap Fund, which provides coverage of the upper 70% of the digital currency market by market capitalization.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.