The firm for the management of institutional investments with cryptocurrencies, Grayscale, revealed this February 26 that it is considering opening new funds related to digital assets. The company would diversify its proposals in the face of growing demand from corporate investors.
Grayscale is now targeting other options with lower market capitalization than that of bitcoin (BTC) or the cryptocurrency of Ethereum, for example. The expansion would even include decentralized finance projects (DeFi), very much in vogue during the last year.
Through a statement, the company reported that it is targeting the following crypto assets: Aave (AAVE), Basic Attention Token (BAT), Cardano (ADA), Chainlink (LINK), Compound (COMP), Cosmos (ATOM), Decentraland (MANA), EOS (EOS), Filecoin (FIL), Flow (FLOW) and Livepeer (LPT).
The company would also open funds for investors to inject capital into MakerDao (MKR), Monero (XMR), Numeraire (NMR), Polkadot (DOT), Reserve Rights ( RSR), Stacks (STX), Sushiswap (SUSHI), Synthetix (SNX), Tezos (XTZ), The Graph (GRT), Uniswap (UNI) and Yearn Finance (YFI).
About This announcement, Michael Sonnenshein, CEO of Grayscale, highlighted that, although the assessment includes all the crypto assets mentioned, not all cryptocurrencies will have a particular investment fund. The firm analyzes them to expand its offer and improve access to institutional funds.
«We are eager to expand our product offering to better serve to our investors. The universe of cryptocurrencies is constantly evolving and we seek to identify bold, interesting and innovative opportunities that satisfy the demand of our investors, “said the executive.
Grayscale leads funds in bitcoin and cryptocurrencies
The company already offers its corporate clients up to nine cryptocurrency-related funds. The trusts currently managed by Grayscale include funds in bitcoin, bitcoin cash, ether, ethereum classic, horizen, litecoin, lummens, Zcash and a mixed fund of crypto assets known as the Digital Large Cap Fund.
Last Friday, Grayscale reported that, in total, it manages more than 36,000 million dollars in its cryptocurrency funds. The Grayscale Bitcoin Trust is the most important fund of the firm with almost 650,000 BTC, which represents more than 29,000 million dollars.
Although Grayscale made official this week its interest in opening funds in other cryptocurrencies, CriptoNoticias reported in January that the company had requested from authorities in Delaware, in the United States, authorization to create funds with Chainlink, Tezos, Decentraland, Basic Attention Token, Livepeer and Filecoin.
Grayscale’s move shows the growing corporate interest in cryptocurrencies. The rise in the price of most digital assets, led by bitcoin, is attracting the attention of wealthy investors, which could influence market prices.