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Grayscale announce 4 new single currency trusts for LTC, XRP, BCH and ETH


Grayscale further ramps up its product assortment to include four new single-asset cryptocurrency trusts for litecoin, ether, bitcoin cash and ripple. They already manage three other such trusts for ethereum, bitcoin and zcash.

Four New Single Currency Trusts

This Tuesday, investment firm Grayscale Investments announced the launch of 4 new instruments/products offered : The Ehtereum Investment Trust, Bitcoin Investment Trust, XRP Investment Trust and Litecoin Investment Trust. GI’s managing director commented, “We remain focused on product creation and will continue to launch more single-asset and diversified products to provide exposure where investors are looking for it.”

Bloomberg interviewed him, wherein he reinstated that Grayscale was set to roll out new offerings this year, with a focus on single currencies as well as pool of currencies.

Grayscale Investments was established in 2013 by the Digital Currency Group. As of February 28, the company had total asset management portfolio of $2.1 billion. The company has already been managing 3 other cryptocurrency trusts other than the ones announced: zCash Investment Trust, Ethereum Classic Investment Trust, and Bitcoin Investment Trust.

Other than the single currency trusts, Grayscale also announced its Digital Large Cap Fund last month which comprises composite investments in ETH, BTC, BCH, XRP and LTC. Barry Silbert, the founder and CEO of Grayscale commented at the time, “We’re excited to further expand the universe of Grayscale’s product offerings as interest in the digital currency asset class continues to grow.”

How to Grab a Piece of this Pie

The trusts that Grayscale creates has the investment objective of its shares to reflect the value of the cryptocurrency that it is based on. “This is determined by reference to the Tradeblock index for each digital asset at 4.00pm New York time, less each trust’s expense and other liabilities,” the company elucidated.

Grayscale’s website reveals the annual fee of each of these new trusts to be set at 2.5%. These trusts are subject to private placement and hence available only to accredited investors according to the US Securities Act.


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