At an event held by Yahoo Finance Barry Silbert, CEO of Grayscale has announced that five crypto-currency-funds will be launched. Including four funds will be based on a crypto-currency. Furthermore, there will be another Fund is made up of the Top 5 crypto-currencies by market capitalization.
The company of Barry silver was first launched in 2015, the Bitcoin Investment Trust (GBTC). The goal was to simplify, in particular, for institutional investors, the acquisition of Bitcoin. By Saving the technical steps to buy Bitcoins of access to crypto-currencies should be paved. In the following year, Grayscale had also launched an Ethereum Classic investment Fund and a Zcash investment funds.
The “Digital Large Cap Fund” will thus be the fourth investment Fund of Grayscale. The Start is set to the rear of the current Top 5 crypto-currencies by market capitalization: Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. (Where exactly is Litecoin at the time of writing taken is only on place 6 behind Cardano.)
The weighting of the investment Fund is the market capitalization, i.e. Bitcoin and Ethereum will take the largest share of the Fund. A control and new weighting is planned according to Silbert on a quarterly basis. In addition, existing crypto can be currencies from the Fund, and new Assets added to the fall.
In the first year of the Digital Large Cap Fund exclusively to SEC accredited investors. After the first year, Grayscale, plans to list the Fund to the public. Thus, the original buyer could sell their shares on the public market.
The Bitcoin Investment Trust (GBTC ) of Grayscale has shown that institutional investors are avoiding the direct purchase of digital coins. Instead, the GBTC has been traded on the secondary market with a significant price premium over the base value. This indicates, in our view, the generally large interest. At the same time, technical hurdles exist, but when purchasing and secure safety Deposit of crypto-currencies, the potential institutional investors hold in the market.
By the end of the first quarter of Grayscale is also planning four other crypto-currency Fund, which should be based on individual digital currencies.
Grayscale is Silbert is a subsidiary of the Digital Currency Group (DCG) of Barry, the crypto-promotes-currency Startups and invested in. In the list of the richest people from the crypto currency world, according to estimates of Forbes, Rich ranked Barry Silbert on place 16 of the crypto. The Portfolio of the DCG includes a number of well-known companies from the crypto currency world. These include BitPay, Bloq, Civic, Coinbase, Coindesk, ether, scan, Korbit, Kraken, Ledger, Ripple, Shapeshipt and ZCash.
Here is the announcement in Video Form: