GrayScale Adds Five Altcoin Trusts

by in Cryptocurrency News

Grayscale new crypto trusts

Today major crypto investment manager GrayScale issued 5 additional altcoin trusts. They are LINK, BAT, MANA, FIL, and LPT.

The entity disclosed its plans to launch these products in January.

Along with these additions, the number of GrayScale's crypto trusts reached 14. The CEO of the organization Michael Sonnenshein mentioned in the paper that interest in digital assets crossed an unprecedented amount. He also noted that there are new users on the platform every day.

After the news went public, the five tokens saw price growth.

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The minimum investment amount in these trusts is $25.000 with a 2.5% fee per year.

The asset manager also intends to have shares of its new outputs listed on secondary markets as well. However, Sonnenshein said there is no guarantee they will have success.

As mentioned in the statement, various determinants like regulatory matters may prevent the products' entry to secondary markets.

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Presently, GrayScale trusts are dominant for institutional investments. They work holding the underlying asset, and the value of shares depends on the amount of that particular cryptocurrency.