Grayscale Bitcoin Trust (GBTC) announced on Monday that five new altcoin projects have been added to its investment products. New altcoins have started trading in the markets, bringing the total number of products Grayscale currently offers to 14.
Amid the market shock, Grayscale adds new altcoin projects to its basket
Investment giant Grayscale, with new token additions, Grayscale Basic Attention Token Trust (GBAT), Grayscale Chainlink Trust (GLNK) ), Grayscale Decentraland Trust (MANA), Grayscale Filecoin Trust (FILG), and Grayscale Livepeer Trust (GLIV) investment products. The digital currency asset manager aims for investors to make extensive use of the cryptocurrency market.
Interestingly, Grayscale’s altcoin addition came at a time when the cryptocurrency market took a huge hit. The collapse of Terra’s stablecoin, UST, which you followed closely on cryptokoin.com news, lost its dollar peg, causing wider market damage. Making the announcement on Monday, Grayscale expressed his leadership in the market:
Sometimes leadership means going against the current. With our current and future offerings, we hope to provide discerning investors with tools to build a diversified portfolio of digital assets.
What is the investment giant targeting?
Grayscale, the world’s largest asset management firm, wants to partner with investors to invest in cryptocurrencies. The firm’s single-asset investment products allow the purchase of many cryptocurrencies other than Bitcoin. Grayscale’s basket also includes Bitcoin Cash, Ethereum, Ethereum Classic, Horizen, Litecoin, Solana, Stellar Lumens and Zcash.
Grayscale’s chief legal officer, Craig Salm, made the following statement regarding the matter:
Today’s announcement is that Grayscale’s entire digital currency investment products are divided into four, with the goal of ultimately converting each of them into an ETF. reaffirms its commitment to move through the phased product lifecycle. We believe that investors deserve access to the digital currency ecosystem through secure products.
Earlier in the day, Grayscale announced the launch of several new products listed in Europe as part of its trans-Atlantic debut. The ETF will be Grayscale’s first European fund to be traded on the London Stock Exchange, Borsa Italiana and Deutsche Börse Xetra. In addition, the ETF can be used to trade across Europe.
