Just-In: Grayscale Launches Optimism and Lido DAO Trusts, OP & LDO Prices React

Digital assets manager Grayscale Investments has reportedly added Optimism (OP) and Lido DAO (LDO) to its growing list of Trust products. Considering the different market niches the duo of Optimism and Lido DAO represents, Grayscale aims to expand its reach in both the Ethereum L2 and staking niches.

Grayscale OP and LDO Trusts, Pathway to ETF?

Owned by Digital Currency Group (DCG), Grayscale Investments has championed the crypto trust and ETF products over the past few years. The firm said it offers investors the opportunity to gain exposure to OP and LDO.

It noted that Optimism is part of Grayscale’s Smart Contract Platforms crypto sector. The protocol is contributing to the evolution of Ethereum through DeFi and general smart contract enablement. Lido DAO on the other hand is part of the Grayscale’s Financials Crypto Sector.

The Trust offers exposure to $LDO, Lido’s governance token. Lido provides a liquid staking solution for the Ethereum network, making staking more accessible, thereby aiming to enhance its security.

Learn more & see important disclosures: https://t.co/jZLLbLlFLh pic.twitter.com/ltoK2AAF7T

— Grayscale (@Grayscale) December 12, 2024

The firm noted that the trusts will invest directly in both tokens on behalf of investors. Grayscale revealed that the offerings are available only to accredited investors. It said these investors are those with $1 million networth or a cummulative household income of $300,000.

This Optimism and Lido DAO Trusts trails behind the private placement for XRP, Solana (SOL), Stellar (XLM), and Decentralized AI Fund it opened last month. The company is also growing its suit of crypto ETF products. It filed an application for Solana ETF product earlier this month, deepening its reach in the market.

For the Optimism and Lido DAO Trusts, Grayscale issued disclaimers, noting that both protocol’s core functions may not work as intended.

OP and LDO Prices Reacts

Following the news, the price of both assets skyrocketed on the daily chart. While OP jumped by 12.35% in 24 hours to $2.609, LDO skyrocketed by over 21% to $2.332. Although this rally aligns with the general bullish market trend, both tokens are outperforming their respective niches.

Over the past month, Grayscale has increased its crypto ETF filings. Beyond the latest Solana ETF, it also filed to convert its Digital Large Fund Cap to a full fledged Exchange-Traded Fund (ETF). As reported earlier, this new filing has been published on the US SEC’s Federal register.