Bitcoin Investment Trust Parent Grayscale Investments To Commence Off with ETH, XRP, LTC and BCH Funds
Grayscale Investments, the company behind the Bitcoin Investment Trust has now announced that they will be beginning off with four fresh trusts – one each for Ethereum, Ripple, Litecoin and Bitcoin Metselspecie. The announcement came on Tuesday and the company stated that thesis fresh investment products will permit investors exposure to different cryptocurrencies te a similar setting.
Thesis fresh investment funds have bot named similar to the Bitcoin Investment Trust: Ripple Investment Trust, Ethereum Investment Trust, Bitcoin Contant Investment Trust and the Litecoin Investment Trust. Thesis freshly announced investment trusts are not only named similar to the Bitcoin Investment Trust, but will proceed to function ter a similar manner spil well.A private placement will be suggested to accredited investors who purchase a ondergrens of $Ten,000 worth of shares and submit to a one-year investment period.
&ldquo,Wij are thrilled to expand Grayscale&rsquo,s offerings to meet rising investor request,&rdquo, said Michael Sonnenshein, Grayscale&rsquo,s managing director, te a media release. &ldquo,Our team is committed to bridging the gap inbetween the global investment community and the digital currency asset class. Wij remain focused on product creation and will proceed to launch more single-asset and diversified products to provide exposure where investors are looking for it.&rdquo,
With the addition of thesis four fresh funds, the total cryptocurrency funds that Grayscale Investments has to suggest has risen to eight. The company also offers Ethereum Classic Investment Fund spil well spil ZCash Investment Fund along with the Digital Large Cap Fund, which is a multi-currency investment fund. For those who may not be aware, the Digital Currency Group is an organization which has ownership stakes te both, ZCash spil well spil Grayscale Investments.
The aforementioned Digital Large Cap Fund wasgoed announced by the company just last month which holds market cap-weighted positions ter the five largest cryptocurrencies. Each of thesis top five cryptocurrencies (Bitcoin, Ethereum, Ripple, Bitcoin Specie and Litecoin) now have their own, dedicated fund. Spil of March Five 2017, Grayscale has $Two.1 billion te assets under management, Michael Sonnenshein said, up from $208 million just a year ago.
While retail investors helped grow the cryptocurrency market ter 2017, it is expected that institutional investors and cryptocurrency funds such spil thesis will help the cryptocurrency prices rise this year with the help of large investments. Spil wij noted te an earlier news story, the number of cryptocurrency hedge funds have doubled ter the past four months, and understandably so because of the massive price rise that cryptocurrencies witnessed from late November to early January.
Sonnenshein continued: ",It is our belief that digital currencies spil an asset class have not only arrived, but are here to stay. Consequently, wij are committed to providing investors with structures that enable them to participate ter this arousing asset class. This is a meaningful milestone for Grayscale spil it increases the number of investment offerings under the Grayscale umbrella from four to eight. At this time last year, Grayscale had only one product, Bitcoin Investment Trust,", he told cryptocurrency news webstek CoinDesk ter an email.
A laptop engineer by education. Have Five years of practice te web and mobile application architecture vormgeving. And now cryptocurrency and blockchain enthusiast.