On March 8, Grayscale Investments – investors of the most lauded Bitcoin Investment Trust announced via Twitter the launching of 4 additional trusts, doubling their product’s quantity aiming at interested or would be crypto investors.
The company’s Digital Large Cap Fund, a multi-altcoin investment fund extended to the following:
- Ethereum Classic Investment Trust
- Ripple Investment Trust
- Bitcoin Cash Investment Trust
- Litecoin Investment Trust
The official Twitter account of Grayscale tweeted:
Greyscale currently holds investment funds for 7 currencies, namely, Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH], Ethereum Classic [ETC], Litecoin [LTC], Ripple [XRP], and Zcash [ZEC].
Michael Sonnenshein, the Managing Director of Grayscale explains:
“These new products form part of a suite that they intend to expand in the future with both diversified and single currency opportunities.”
He continues to say:
“the company believes in altcoins, as a class of assets in their own right – have not just arrived, but have established themselves.”
Grayscale’s commitment is to provide investors a suitable structure which permits them participate in the new asset class. Notably, this is the first time that Grayscale has allowed individual investment opportunities.
Last year, they were responsible for $208 million worth assets, which have currently risen to roughly $2.1 billion. In parallel, they have broadened their horizons to seven individual investment products, a fact that is perceived as milestone by them.
Michael also stated:
“We are thrilled to expand Grayscale’s offerings to meet rising investor demand.”
They also characterized themselves as the first securities of the products allowing investment in Ripple, Litecoin, Ethereum Classic and Bitcoin Cash.
The manager continued to state:
“Our team is committed to bridging the gap between the global investment community and the digital currency asset class.”
The new trusts will be available to accredited investors with a minimum purchase value summing up to $10, 000 worth shares, submitted to a one-year vesting period.
However, the time some speculators doubt about this whole idea, Genter, an investor asks:
“Hello! What is the benefit of investing in grayscale fund instead of holding bitcoin directly?”