The digital asset market is a very dynamic one and one in which new products are introduced every day. No one can fully tell which new digital asset will be the next bitcoin or ether but the market is not in want of promising products to invest in. Grayscale, the world’s largest digital asset manager, is at the forefront of the industry and is constantly investing in new assets.
The latest of these was announced on February 26, 2021, as Grayscale has launched a new round of potential investments in various digital assets. As per the official announcement, the firm is seeking new ways to bring value to its customers.
Grayscale’s New Tokens
The official press release states that Grayscale is considering around 23 new digital assets for investment. These include Aave (AAVE), Basic Attention Token (BAT), Cardano (ADA), Chainlink (LINK), Polkadot (DOT) Compound (COMP), Cosmos (ATOM), Decentraland (MANA), EOS (EOS), and MakerDao (MKR).
The reasoning behind this new round of investments is that for customers to attain the most benefit from their portfolios, diversification of assets is needed.
“We’re eager to expand our product offerings to better serve our investors,” said Grayscale CEO Michael Sonnenshein. “The digital currency universe is constantly evolving and we seek to identify bold, interesting, and innovative opportunities that satisfy our investors’ demand for differentiated exposure to this burgeoning asset class.”
CEO Sonnenshein clarified that there is no expectation for every asset invested to become a landmark but that the firm is determined to connect its customers to the digital asset market in a diverse and effective way. Now, each asset will be subject to a rigorous review process prior to investment products being created with them.
This includes internal controls, custody arrangements, and regulatory considerations, and following this, announcements will be made about the new investment products to be offered to investors.
Currently, Grayscale offers single-asset investment products that give its customers exposure to a number of assets including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), and Litecoin (LTC).
There is also a secondary market for Grayscale products such as Grayscale® Bitcoin Trust (OTCQX: GBTC), Grayscale® Bitcoin Cash Trust (OTCQX: BCHG), Grayscale® Ethereum Trust (OTCQX: ETHE), Grayscale® Ethereum Classic Trust (OTCQX: ETCG), Grayscale® Litecoin Trust (OTCQX: LTCN) and Grayscale® Digital Large Cap Fund (OTCQX: GDLC).