Grayscale Launch Five New Funds

By Tomadachi | Tomadachi | 17 Mar 2021

Grayscale Investments, a subsidiary of Digital Currency Group, is a company that manages cryptocurrency investment funds.

Founded by Barry Silbert in 2013, Grayscale regularly make headlines for the amount of Bitcoin they purchase over a short time frame.

Today, they have announced the launch of five new cryptocurrency funds: 

The new funds will join the stable of existing investment vehicles in Grayscales portfolio (Grayscale Bitcoin Trust (OTCQX: GBTC), Grayscale Bitcoin Cash Trust (OTCQX: BCHG), Grayscale Ethereum Trust, (OTCQX: ETHE), Grayscale Ethereum Classic Trust (OTCQX: ETCG), Grayscale Litecoin Trust (Symbol: LTCN), and Grayscale Digital Large Cap Fund (OTCQX: GDLC))

New Funds

The company's correspondence provided the following details on the new funds to potential investors:

Grayscale® Basic Attention Token Trust (BAT): BAT serves as the native digital currency for Brave, a blockchain-based digital advertising and services platform that is a subnetwork on the Ethereum Network. BAT aims to eliminate many of the privacy, fraud, and security concerns associated with traditional web browsing and digital advertising.

Grayscale® Chainlink Trust (LINK): Chainlink is a decentralized network aimed to link real world data and public blockchains by connecting smart contracts to off-chain data for markets, events, and payments. LINK is used as a payment token within the Chainlink ecosystem and as the necessary collateral for node operators that want to provide data services.

Grayscale® Decentraland Trust (MANA): MANA is the token that serves as the native digital currency in Decentraland, a peer-to-peer virtual reality platform that is a subnetwork on the Ethereum Network. Within Decentraland, MANA serves as the unit of account for users to pay for goods and services.

Grayscale® Filecoin Trust (FIL): FIL is a digital asset that is created and transmitted through the operations of the peer-to-peer Filecoin Network, a decentralized network of computers that enables anyone to buy or sell excess computer storage. The purpose of the Filecoin Network is to provide more efficient, resilient and cost-effective cloud storage services as compared to centralized cloud computing providers such as Amazon Web Services, Google Cloud and Microsoft Azure.

Grayscale® Livepeer Trust (LPT): LPT serves as the native digital currency for the Livepeer Network, a subnetwork on the Ethereum Network. Livepeer aims to build a platform for decentralized video broadcasting and streaming. By incenting a network of participants, Livepeer hopes to provide a cheaper, more scalable, and censorship-resistant solution to video infrastructure.

Prices React

A corresponding jump in the assets prices following the announcement can be found by searching on CoinGecko, with Livepeer (LPT) showing the way with a 90% increase over the last 24 hours.




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