Grayscale adds 5 new investment trusts following high demand, including Chainlink and Basic Attention Token

The largest digital asset investment firm, Grayscale, recently added five new investment trusts for its clients. This makes a total of 13 crypto-investment trusts held by the firm. The new tokens are:

In a recent interview with GlobeNewswire, CEO Michael Sonenshein said Grayscale plans to extend its list to at least 40 products for investors. This adds a wide range of assets for investors seeking potential tokens in the market. Sonenshein stated:

“At any one time, we’re probably maintaining a list of what could be 30 products, could be 40 products that we’re interested in bringing to market. We’re trying to always reconcile where we may find compelling opportunities in the digital assets ecosystem and trying to reconcile where investors are interested in deploying capital.”

High demand for alternative cryptos

While Bitcoin consolidates after India decided to pass a bill banning crypto-trading, the demand for cryptocurrencies is still strong. Grayscale recently saw a large inflow of investors reaching out to the company, seeking exposure to alternative assets.

“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 expects to meet investors’ demand by adding these five tokens. The majority of the five new assets experienced tremendous growth in the past 24 hours. At the time of writing:

  • Chainlink’s LINK is up nearly 8%, trading at $29.00, with a 24-hour trading volume reaching 40%.
  • Livepeer’s LPT hit tremendous growth as well, up to 117% in just 24 hours, priced at $15.00. Likewise, the token reached a 24-hour trading volume of over 750%
  • Basic Attention Token (BAT) is up nearly 50% in price, trading at $1.20. The 24-hour trading volume reached levels of 610.80%.
  • Filecoin, an open-source token from Protocol Labs, is up 40% in the last 24 hours, with a 24-hour trading volume of 229.00%.
  • While Decentraland MANA is down -0.70%, the 24-hour trading volume is increasing, reaching levels over 70.00%

On a final note, Sonenshein added he expects Grayscale to become a pioneer in the industry. The company plans to bring more potential assets in the upcoming months for individual and accredited investors:

“Grayscale has long been the leader in creating novel pathways for investors to access the opportunities that digital currencies may offer, and this announcement carries on that tradition. We look forward to working with our global investor base, our growing team, and regulators to continue to move this industry forward.”

The post Grayscale adds 5 new investment trusts following high demand, including Chainlink and Basic Attention Token appeared first on CryptoSlate.

Leave a Reply

Your email address will not be published. Required fields are marked *