Grayscale Confirms It Is Considering Making New Products on Chainlink, ADA, Polkadot, XMR and others

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Fri, 02/26/2021 - 15:01
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Yuri Molchan
Major crypto hedge fund Grayscale confirms that it is considering launching new products based on LINK, ADA, DOT, XMR, YFI and other promising altcoins
Grayscale Confirms It Is Considering Making New Products on Chainlink, ADA, Polkadot, XMR and others
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In a recently published press release, Grayscale has officially announced that it is eyeing the creation of new crypto trusts based on Chainlink, Yearn.Finance, Cardano and other major altcoins.

Grayscale considers launching new crypto trusts

The largest Bitcoin-acquiring hedge fund, Grayscale Investments, has confirmed that it is mulling over diversifying its portfolio with new products.

The new crypto trusts it is considering would be based on the following altcoins: Chainlink, ADA, DOT, XMR, Yearn.Finance, EOS, Filecoin, BAT, SushiSwap, UniSwap and others.

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New products may be based on multiple coins

The company CEO, Michael Sonnenshein, stated that none of the coins on the list is likely to become the basis for a single product.

Grayscale already has a Digital Large Cap Fund that consists of Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

As of Jan. 4, XRP has been excluded from the DLC fund due to the lawsuit initiated by the SEC against the coin's largest owner: Ripple Labs.

Earlier this year, U.Today reported about Grayscale filing for the launch of new crypto trusts based on Yearn.Finance and other tokens.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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