financemagnates.com
Grayscale, the world’s largest cryptocurrency asset manager, has announced the launch of five new digital currency investment trusts to expand its offerings. The company now has a total of 14 investment products.
According to the official press release, Grayscale has expanded its portfolio with Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT) investment trusts. The cryptocurrency assets surged significantly following the news as BAT, FIL, and MANA jumped by more than 20% in the last 24 hours.
The biggest surge was reported in LPT as the cryptocurrency asset posted nearly 200% gains within a single day. LINK, the world’s 10th largest cryptocurrency gained around 8% in the last 24 hours. The overall market cap of digital currencies now stands at around $1.8 trillion.
Commenting on the recent announcement, Michael Sonnenshein, CEO of Grayscale, said: “Digital currencies have reached an inflection point. Investor demand has never been higher, and every day we’re seeing new entrants to what has surely become a bona fide asset class. Grayscale has long been the leader in creating novel pathways for investors to access the opportunities that digital currencies may offer, and this announcement carries on that tradition. We look forward to working with our global investor base, our growing team, and regulators to continue to move this industry forward.”
Cryptocurrency Assets under Management
Grayscale is the largest institutional holder of Bitcoin. The asset manager now has $43.6 billion worth of cryptocurrency assets under management. Grayscale has more than 655,000 Bitcoin under management with a total value of nearly $38 billion. The company recently accelerated its accumulation of Ethereum with the addition of more than 40,000 ETH in the last 30 days. The total value of Grayscale’s ETH assets under management stands at around $5.8 billion.
In addition to Bitcoin and Ethereum, Grayscale also has Litecoin, BCH, Ethereum Classic, ZEC, ZEN, and XLM investment trusts. The firm recently announced the consideration of 23 cryptocurrency assets for new investment products.