Grayscale considers adding Solana, ICP and Polygon as well as 10 other investment products as we are reading more in our latest cryptocurrency news today.
The crypto asset manager is exploring a total of 31 new investment products and now it is also looking to add them to the portfolio. The leading crypto asset manager Grayscale Investments is exploring 13 additional investment products according to the announcement on Thursday. Grayscale considers adding Solana, ICP, and Polygon and on a further note, it looks to add 1Inch, Curve, Bancor, Kava, Kyber Network, NEAR, and Loopring as well.
06/17/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) June 17, 2021
Grayscale has more than $33 billion in asset under management and the asset manager’s BTC trust product is a leader in the 13 investment products that it is currently offering with $24.5 billion in AUM. However, the shares in the trust shares added a discount to the price of BTC. The 13 new assets under consideration are in addition to the 18 company that is exploring which means that Grayscale is considering a total of 31 investment products.
Grayscale announced that was looking into 21 potential new assets back in February and even launched five in March including Chainlink, Basic Attention Token, Filecoin, and Livepeer. The addition of new products requires review and consideration and it is subject to substantial controls that secure custody arrangements and regulatory considerations. Investment trusts and funds like Grayscale provide companies exposure to crypto assets without the need to take custody of the underlying asset and the products that it trades on the public stock exchanges are tracking the price of the cryptocurrency though some funds can trade at a premium or discount depending on the underlying asset.
Grayscale’s latest announcement came a few days after Morgan Stanley announced that it’s set to expand on the BTC fund options that it offers. It also became the first major US bank to launch a crypto investment fund.
As recently reported, institutional BTC investors are in the spotlight now as the upcoming major cashout date is sparking new waves of fresh volatility. Twitter commentator Loomdart shifted the attention to the buyers and sellers of the grayscale Bitcoin trust as the number one cryptocurrency hovers near $40K. the giant in the institutional BTC space GBTC has over $24 billion in assets under management but it is not available constantly. The trust operates with periodic closures and this year it coincided with the buy-in price trading at the discount spot price
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