Grayscale Investments to Launch 5 Crypto Funds

The company declined to name the four new cryptocurrencies it would target, but said the funds would be structured like the Bitcoin Investment Trust
25 January 2018   654

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.

 

Michael Sonnenshein

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.

German Exchange to launch Bitcoin Products

Deutsche Boerse, the Frankfurt Stock Exchange holder, is deciding about the providing cryptocurrency products
24 May 2018   75

Reporting in London on Wednesday, at a significant event of the sphere, Jeffrey Tessler (the firm's chief of customers, products and core markets), declared: "We are deep at work with it." Nevertheless, any move into the crypto space from the stock exchange might not be forthcoming fast. When CME Group and Cboe Global Markets both started bitcoin futures trading last December, Tessler further claimed during the event that Deutsche Boerse is "not at the same stage." According to his point of view, the company is attempting to understand the volatility of the bitcoin market first and insuring clients and regulators are "in line" before stepping ahead with any offerings.

Whilst a move into offering bitcoin products is not definite, the exchange has already been active in the blockchain field. Deutsche Boerse unvealed details to CoinDesk about its plan to move the majority of its post-trade services to a blockchain last June. It affirmed at the time that it was interested in building a system, using Hyperledger's open-source Fabric protocol, in order to transfer securities and move commercial bank money, while still undertaking cross-jurisdictional compliance with regulators.

Also, as recently as March, the group declared it wish to deploy a platform for more operative securities lending using R3's Corda blockchain tech.