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))
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.
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.