The world’s largest cryptocurrency asset manager, Grayscale, 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.
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 by market cap, 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, CEO of Grayscale Michael Sonnenshein 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 now holds over $36 billion in bitcoin.
Grayscale now holds more than 650,000 BTC under management with a total value of over $36 billion. The crypto asset manager also has nearly 3.17 million Ethereum under management. The total value of Grayscale’s ETH under management now stands at around $5.8 billion. The company purchased around 130,000 ETH in the last 30 days. Earlier, Digital Currency Group (DCG) announced that the company had authorized the purchase of up to $250 million worth of Grayscale Bitcoin Trust shares. Bitcoin and Ethereum account for more than 90% of the total value of Grayscale’s crypto assets.