News Grayscale Investments Launches Digital Large Cap Fund

Grayscale Investments Launches Digital Large Cap Fund

-

- Advertisment -

Grayscale Investments are a prominent company in the cryptocurrency world. They already operate the Bitcoin Investment Trust, as well as other similar ventures. The company will increase its focus on large-cap cryptocurrencies moving forward. To do so, the company announced the Grayscale Digital Large Cap Fund. The fund is designed to provide exposure to top liquid digital assets through a market cap-weighted portfolio. It is an intriguing venture for many different reasons.

It is evident there is more to cryptocurrency than just Bitcoin. While most people know Ethereum and perhaps XRP, everything else is of less importance. With the Grayscale Digital Large Cap Fund, that situation will come to change. Initially, the project focuses on five top cryptocurrencies. This list includes Bitcoin, Ethereum, XRP, Litecoin, and Bitcoin Cash. The choice for LTC is pretty interesting, but it also makes sense.

Another Grayscale Investment Fund

Every quarter, the fund will be rebalanced. Right now, the plan is to have Bitcoin make up 48.4% of the fund’s weight. Litecoin, on the other hand, will only represent 2.5%. Bitcoin Cash sits at 7.2%, which is modest yet significant. It is evident Bitcoin and Ethereum will continue to make up the majority of this portfolio. Depending on how the markets evolve, these percentages will shift around. It is the fourth cryptocurrency investment fund launched by Grayscale Investments to date.

All things considered, Grayscale Investments is diversifying as much as most cryptocurrency holders. The company focuses on Bitcoin, Ethereum Classic, and ZCash through their other projects. Adding this new fund to the list brings their total number of “supported” currencies to seven. It is an interesting collection, to say the least. Digital Large Cap Fund is designed to be a broader basket. It is possible other currencies will be added in the future as well. For now, it remains unclear if and when that might happen.

Exposure to this new fund is limited to SEC-accredited investors. Eligible investors can purchase shares from Grayscale directly. These shares will become public after one year, which is when early buyers can start selling their shares. It is unclear which market ticker this new fund will use in the future. It is evident Barry Silbert remains very bullish on cryptocurrencies in general. After the recent market crash, this news is more than welcome.

Header image courtesy of Shutterstock

Tags: cryptocurrency, Grayscale Investments, Investment Fund

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...
- Advertisement -Grayscale Investments Launches Digital Large Cap Fund

Crypto can’t thrive in the real world – but stablecoins can

We can safely say that the hype about cryptocurrencies is pretty much over. The claims of Bitcoin...

How to double your crypto

Most of us have a small gambler deep inside our souls. We love to feel the thrill...

Must read

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that...
- Advertisement -Grayscale Investments Launches Digital Large Cap FundGrayscale Investments Launches Digital Large Cap Fund

You might also likeRELATED
Recommended to you