Greyscale, the world’s largest cryptocurrency asset manager, has announced that it has launched a product that allows holders to invest in an altcoin project. He also announced that they are examining 2 coins to launch new products.
Is a move coming from Grayscale for these 2 altcoin projects?
Grayscale recently announced the launch of a Solana (SOL) focused single-asset investment product, and support for more Ethereum competitors may be imminent. In a press release, Grayscale announced the new Solana Trust, which will join 13 other single-asset cryptocurrency investment products.
Crypto management firm says it is considering whether to add support for smart contract platforms Terra (LUNA) and Avalanche (AVAX), in addition to Solana. Terra (LUNA) rose from $0.66 at the beginning of 2021 to 58.66. In the same time frame, AVAX rose from $3.37 on January 1 to its current price of $125.85.
Investors go beyond Bitcoin and Ethereum
Grayscale CEO Michael Sonnenshein says investors are looking to expand their portfolios beyond major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Sonnenshein used the following expressions:
For the past eight years, Grayscale has been at the forefront of offering investors productive exposure to the ever-evolving cryptocurrency ecosystem. We’ve been at the forefront of the mainstream adoption and adoption of crypto, and we’re increasingly seeing investors diversify their exposure beyond cryptocurrencies like Bitcoin and Ethereum.
According to the press release, Grayscale Solana Trust is Grayscale’s sixteenth crypto investment product. Other single-asset investment products include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Decentraland (MANA) and Filecoin (FIL). Cryptocoin. com, earlier this month Grayscale registered approximately $60 billion in assets under management.