New offerings reflect growing global demand for digital currency investment products
New York, March 17, 2021 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital currency asset manager, today announced the launch of five new digital currency investment trusts, bringing its total number of investment products to 14.
The new trusts are:
- Grayscale® Basic Attention Token Trust
- Grayscale® Chainlink Trust
- Grayscale® Decentraland Trust
- Grayscale® Filecoin Trust
- Grayscale® Livepeer Trust
“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,” said Grayscale CEO Michael Sonnenshein. “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 new trusts are now open for daily subscription by eligible individual and institutional accredited investors.
The trusts function the same as Grayscale’s other single-asset investment trusts. Each of the trusts are among the first investment products solely invested in the digital currencies underpinning Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT).
Grayscale’s other single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), and Zcash (ZEC). Additionally, Grayscale’s diversified investment product, Grayscale® Digital Large Cap Fund, provides exposure to the top digital currencies by market capitalization.
Grayscale’s investment products are available to institutional and individual accredited investors through their respective periodic and ongoing private placements.
Certain Grayscale products are publicly-traded on OTC Markets, including OTCQX® 1. Shares of these products that have become unrestricted in accordance with the rules and regulations of the SEC and may be bought and sold throughout the day via any brokerage account. These products include:
- 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 (OTCQX: LTCN)
- Grayscale® Digital Large Cap Fund (OTCQX: GDLC)
As is the case for these products, Grayscale intends to attempt to have Shares of new products quoted on a secondary market as well. However there is no guarantee that we will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in the new products should not assume that the Shares will ever obtain such an approval due to a variety of factors, including questions regulators such as the SEC, FINRA or other regulatory bodies may have regarding such products. As a result, shareholders of such products should be prepared to bear the risk of investment in the Shares indefinitely.
This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
1Each product offers a private placement to accredited investors. The investment objective of each product is for its Shares (based on digital assets per Share) to reflect the value of digital assets held by such product, determined by reference to the applicable TradeBlock index price or reference rate, less such product’s expenses and other liabilities.
To date, certain products have not met their investment objective and the Shares of such products quoted on OTCQX have not reflected the value of the digital assets held by such products, less such products’ expenses and other liabilities, but have instead traded at a premium over such value, which at times has been substantial. Recently, there have also been limited instances where the Shares of certain products have traded at a discount.
About Grayscale Investments®
Grayscale Investments is the world’s largest digital currency asset manager, with more than $42.9B in assets under management as of March 16, 2021. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA/SIPC, MSRB Registered). For more information, please visit grayscale.co and follow @Grayscale.