Among the new cryptocurrencies, the less popular stands out: Livepeer. Grayscale had already registered these funds with US authorities.
The investment firm Grayscale is extending its offer of funds for its clients, with the launch of new products that focus on the cryptocurrencies Chainlink (LINK), Basic Attention Token (BAT), Filecoin (FIL), Decentraland (MANA), and livepeer (LPT).
The company spoke about the launch of these new investment funds. These funds work like those of the other cryptocurrencies already existing in their offer, Grayscale explains in the text.
Now, the firm exposures to a total of 13 cryptocurrencies, adding its investment funds in bitcoin, ether, bitcoin cash, ethereum classic (ETC), and other relevant criptocurrencies. Also, they have a mixed fund, called Grayscale Digital Large Cap Fund, which allows investment in a package of assets with the highest market capitalization.
Regarding the new coins that appear in the list, the company explained that it responds to investors’ increasing demand for more options and features in the world of cryptocurrencies.
‘Digital currencies have reached a tipping point. Investor demand has never been higher, and we see new entrants every day,” said Michael Sonnenshein, CEO of Grayscale.
Some Big Cryptocurrencies and the Arrival of LPT to Grayscale
Among the new currencies that arrived at this digital asset manager, there is LINK, the token of the Chainlink oracle network that also runs on the Ethereum blockchain. This cryptocurrency is ranking in the top 10.
FIL is also at the top of the 20 most valuable assets on the market. Among the top 60, we also can find BAT, the Brave browser’s rewards token, and MANA from the virtual reality platform on Ethereum, Decentraland.
Also, a case that has unleashed a considerable amount of curiosity is the arrival of LPT to Grayscale. The token of the Livepeer network, a platform for videos and live broadcasts, is one of the lesser-known currencies out there. This coin does not even appear among the 200 with the largest market capitalization.
Of the 5, the cryptocurrency with the most significant reaction to the news was precisely LPT. In just 24 hours, it multiplied its price and now exceeds $ 15 per unit, a new all-time high. BAT (40% up), FIL, which is up more than 30%, and LINK (up 9%) have also quickly benefited from the market.
MANA, on the other hand, reacted negatively to its arrival at Grayscale. The Decentraland token fell 3.5% in the last 24 hours, although in a range of one week, its price rose about 80%, according to CoinMarketCap data.
The Timing of Institutional Investments in Bitcoin and Other Cryptocurrencies
A company that decides to invest millions of dollars in the cryptocurrency market is a widespread event nowadays. This event happens mainly with bitcoin, the leading cryptocurrency in the market and already recognized by many influential personalities in the financial world as a good value store option.
Grayscale’s crypto fund grew with that same wave and surpassed $ 36 billion in assets under its custody. Therefore, this expansion in their offer is not strange, something that they have constantly been evaluating, beyond having closed their fund in ripple (XRP) at the beginning of the year.
The firm had already announced some of these cryptocurrencies’ arrival, registering six new funds with US authorities. From that list, only the tezos investment fund (XTZ) would be open.
By: Jenson Nuñez
