Grayscale Investments, the Bitcoin Investment Trust sponsor, announced on Tuesday its plans to offer four new single-currency crypto funds and another based on a basket of digital currencies by the start of April.
By the end of the first quarter of this year, we’ll have a total of eight investment products. We’re super excited about the new basket productю That vehicle will hold the top liquid digital currencies, it will be market cap-weighted, and balanced on a quarterly basis.
Director, Grayscale Managing
Sonnenshein declined to name the four new cryptocurrencies it would target, but said the funds would be structured like the Bitcoin Investment Trust, giving investors the ability to gain exposure to digital currencies through the purchase of a security. He declined to say how many cryptocurrencies the basket would include.
Grayscale, which tried to list the Bitcoin trust last year on the NYSE Arca market before the plan was scrapped, doesn’t intend to target its new products to the exchange, he added.
Along with the Bitcoin vehicle, Grayscale already offers Ethereum Classic and Zcash funds.