Grayscale Adds 5 New Altcoins to Its Range

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Grayscale, the world’s largest digital asset manager, is setting up five new cryptocurrency funds in total. The funds to be established by the company include Basic Attention Token, Chainlink, Decentraland, Filecoin and Livepeer five.

Grayscale, which has a total of $ 42.9 billion in assets under its management; establishes five new cryptocurrency funds. Three of these will be used to invest directly in the Chainlink, Filecoin and Livepeer trio.

According to BNN Bloomberg news, one of the funds will be kept Ethereum-based Basic Attention Token, and the other will be used to invest in the Decentraland ecosystem.

The Decentraland price rose more than 16% after the news, while other altcoins took action.

It appeals to the institutional investor

Institutional investors who meet the conditions will be able to invest in five new funds established by Grayscale. Grayscale CEO Michael Sonnenshein explained that “demand from the investor side is higher than ever” in the cryptocurrency market.

Grayscale; If the Digital Large Cap Fund is included, it now operates 14 different funds. In the product range that includes Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Horizen, Litecoin, Stellar Lumens and Zcash, the biggest slice of the cake belongs to the Grayscale Bitcoin Trust.

Sonnenshein said the number of products on the range could rise to over 30 over time.