Grayscale announces new four cryptocurrency funds. Cryptocurrency has become popular all over the world, and the interest in digital currencies investment is growing. Also, many people have a trend to invest in cryptocurrency. There are many cryptocurrencies that have popularity in the world. A firm like Grayscale has launched new four cryptocurrency funds concerning investment.
Grayscale announces new four cryptocurrency funds
Grayscale managing director Michael Sonnenshein announces new four cryptocurrency funds. Also, he said that the firm is with (GBTC) the tradable Bitcoin Investment Trust. The funds are Bitcoin Cash Investment Trust, Litecoin Investment Trust, Ethereum Investment Trust, and Ripple XRP Investment Trust. Also, these funds include bitcoin cash, Ripple, Litecoin, Ethereum virtual currencies. These four new cryptocurrency funds follow a rule based on methodology. Furthermore, the methodology in Grayscale makes its primary concentration on the cryptocurrencies liquidity. In each quarter the digital currencies are in evaluation to have assessed. This happens if they have declined to a target 70% in the overall market cap concerning digital currencies. Also, this makes a good indication of their liquidity.
Grayscale’s managing director talks about new four cryptocurrency funds
Managing director for the firm Michael Sonnenshein said that these new four cryptocurrency funds are good. They are like something that lets people can really wrap their heads around.” Also, he said that in the week after the introduction of these funds the demand has been fantastic. Furthermore, he showed that they will break records all the time.
One year holding period for the investor
There is a one year holding period available for the investor. This will be before the investor can exit the funds without restrictions. The only U.S.A based qualified accredited investors can invest in these funds. This is because the operation in these funds is as trust. Also investments managing director for the firm, Michael Sonnenshein said that digital currencies are not like bonds and stocks. There is some technological prowess, and many people need this to handle them.
Grayscale firm in cryptocurrency
The firm has $2.1 billion in assets. They are under management across different eight products. Also in 2013, it created Bitcoin Investment Trust (GBTC). It provides a suitable medium to invest in, and trade on the movements concerning the price of the bitcoin cryptocurrency. This is without the participant taking a direct position in the virtual currency. These new four cryptocurrency funds add a multi-crypto investment fund to the Digital Large Cap Fund. This which the company launched last month. Digital Large Cap Fund has an investment medium for a combined basket of cryptocurrencies. The four cryptocurrency funds will concentrate on individual cryptocurrencies.
New four cryptocurrency funds to expand the investor base globally
These new four cryptocurrency funds will make the firm expand its investor base globally. An example of this, Ripple will have great traction in Asian markets like China, and Japan. But here the regulatory crackdown in a few regions have raised questions about the legality of cryptocurrency investment. Now accredited investors have the ability to take the easy route to get exposure to different cryptocurrencies.