What You Need to Know
- Grayscale announced five new crypto asset trusts coming to market at private placements.
- Three of the five products involve subnetworks on the Ethereum network.
- Grayscale is the sponsor of the largest Bitcoin fund, the Grayscale Bitcoin Trust, which has over $35 billion in assets.
Grayscale Investments, the sponsor of the world’s largest Bitcoin fund, has announced the launch of five new crypto asset trusts, which are available as private placements for accredited investors only.
Eligible investors can purchase shares at daily net asset value. The minimum investments for each of the trusts are $25,000, and the fees are 2.5%.
As in the case of Grayscale Bitcoin Trust (GBTC) and five other Grayscale cryptocurrency trusts, the firm intends to make shares of the new products available on the secondary market after a time. The holding period for the five new trusts is one year, according to a spokesperson.