Chat with us
on Telegram

Grayscale launches Four ways of getting exposure to Bitcoin and other Cryptocurrencies

Nishanth Shetty

Nishanth Shetty

March 13, 2018 12:12 pm

Grayscale launches Four ways of getting exposure to bitcoin and other Cryptocurrencies | Coindelite News
3440 Total Views

Michael Sonnenshein launches four new ways of gaining exposure to bitcoin and other cryptocurrencies.

Crypto investor reveals that investing in cryptocurrencies is complicated, but new trusts could make it more accessible.

Sonnenshein, managing director at Grayscale Investments, a digital currency investment firm.

He said to CNBC:

“Cryptocurrencies are not like stocks and bonds and all the other things that you buy; there’s certain technological prowess that people need to have to handle them, store them securely.”

Realizing that investors need exposure to digital currencies, Grayscale launched four new crypto funds: Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust and XRP Investment Trust.

Grayscale has invented the famous Bitcoin Investment Trust (GBTC), which is a way of investing in and trading the price moves of bitcoin even without directly investing in the cryptocurrency.

Sonnenshein said:

“The new trusts are something that people can wrap their heads around.”

Sonnenshein told since the products were introduced, the demand has been fantastic. The company also has approximately $2.1 billion in assets under the management of eight various products.

He Included:

“There’s a lot of investors who want to be able to place targeted exposure in a fund, and there are also investors who want that more-diversified exposure, like the digital large-cap fund offers. We’re continuing to break records all the time.”

He stated that each fund works as a trust on a rules-based methodology, where tokens are estimated each quarter to see if they have fallen into the 70 percent target of the overall market cap in the cryptocurrencies.

Sonnenshein Included:

“Of course there are other qualifiers and disqualifiers: There’s got to be a liquid market. We have to have a custodial solution that we feel is secure and robust and allows us to continue to support the product operationally.”

Sonnenshein noted the Grayscale plans for rolling out more new products later this year. He mentioned that each fund would be having one-year of holding period before it can be resold without any restrictions. The only U.S. qualified certified investors utilize money into funds.

Venezuelan Petro Cryptocurrency to be banned by Trump

Trump bans the Venezuelan Petro Cryptocurrency President Donald Trump signed an executive order on March 19, 2018, barring American citizens and residents from investing and transacting digital currencies or tokens knotted to the Venezuelan government that was issued on or after January 9, 2018. The executive order mainly targets the …

G-20 Regulators said: Bitcoin move ahead $8,400 after news that “could have been bad”

Bitcoin surpasses $8,400 mark after news that “could have been worse” said G-20 Regulators Bitcoin prices recouped above $8,500 Monday as international regulators took a tempered strategy to cryptocurrency regulation ahead of G-20 meeting Tuesday. The Financial Stability Board, an international watchdog that runs financial regulation for g-20 economics, held …

Twitter to Ban Cryptocurrency related ads due to the Regulatory concern

An unconfirmed report says that Twitter would Ban Cryptocurrency related ads According to the report, Twitter is considering to implement a ban on Cryptocurrency-related advertising in two weeks. Twitter has not responded to any request for the confirmation regarding the crypto ad ban. Twitter announced crypto ad ban would come …

Pin It on Pinterest

Share This