Grayscale has launched four new cryptocurrency funds, and plan on launching more later this year. The four funds are setup as trusts, and participation is limited to U.S.-based accredited investors. The names of the funds are: Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust, and XRP Investment Trust.
Greyscale Investments managing director Michael Sonnenshein stated:
“Digital currencies are not like stocks and bonds. There’s certain technological prowess that people need to have in order to handle them.”
He also added:
“It is our belief that digital currencies as an asset class has not only arrived, but are here to stay, Consequently, we are committed to providing investors with structures that enable them to participate in this exciting asset class.”
Grayscale $2.1 billion in assets under management across eight different products. They created the Bitcoin investment Trust (GBTC) in 2013 , created the popular Bitcoin Investment Trust (GBTC) in 2013, and the Digital Large Cap Fund, a multi-crypto investment fund launched this year.