Grayscale Launches Five New Altcoin Trust Funds

March 18, 2021 Editor Altcoin 0

Share this article

Grayscale has launched five new altcoin trust funds of Basic Attention Token, Chainlink, Decentraland, Filecoin, and Livepeer for institutional investors.

Grayscale Pumps Unpopular Crypto Assets

Grayscale allows accredited investors to issue trust shares backed by five new tokens in BAT, LINK, MANA, FIL, LPT. The shares will come with a lock-in period and are non-redeemable, similar to the other prior altcoin listings of Zcash, Stellar, and more.

The asset management firm had noted in a recent press release that it is planning to add more altcoins-based investment products, listing 23 select cryptocurrencies.

The world’s largest digital asset manager has chosen some of the least popular tokens from the list, like Livepeer with a market capitalization of less than $500 million.

The price of respective cryptocurrencies had jumped about 40% on average.

Livepeer’s LPT token was the biggest winner with a 100% surge within hours following the announcement. Others in LINK token rose by 8.23%. MANA by 30.75%, BAT 45.7%, and FIL by 32.1%.

Grayscale LLC now lists 13 cryptocurrency trusts, including Bitcoin, and boasts a total asset under management (AUM) of $42.9 billion. The altcoin portfolio accounts for about 16% of the total assets.

Disclosure: The author held Bitcoin at the time of press. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

wNews: Unwinding the Grayscale Bitcoin Trade

This week’s edition of wNews digs into the Grayscale arbitrage trade. Understanding how this particular trade works is key to identifying its effects on the greater crypto economy.  In short,…

What is Dogecoin?

So what is the story behind DOGE? How did it become the asset of choice for a group of anti-establishment retail traders in January 2021, and what are the chances…

Are Institutional Investors Behind Bitcoin’s Rise?

Changpeng Zhao, the CEO of Binance and a leading voice in the crypto community, has poured cold water on the idea that institutional investors are driving bitcoin’s price action. While…

Demand Shortage in Grayscale’s Bitcoin Trust Signals Alarm Bells

Grayscale has reopened the sale of its Bitcoin Trust shares to new investors after three weeks. The leading cryptocurrency faces a shortage of demand from existing Grayscale investors in the…