Grayscale Investments To Launch Single Crypto Asset-Trusts

Crypto Asset Trusts To Be Launched By Grayscale
  • Grayscale Investments may soon launch five new cryptocurrency asset trusts
  • The firm has filed a request for the same through its statutory trustee with a corporations registry based in Delaware
  • Additionally, in October 2020, registration for the Filecoin Trust was made

Grayscale Investments, a prominent digital asset management firm, is looking to set up new single-asset trusts.

Potential Launch Of 5 New Digital Asset Trusts

Grayscale Investments is currently the world’s biggest and most prominent digital asset management company. It seems to be planning the potential dispatches of new single-asset trusts for various digital currencies. On December 18, 2020, the firm recorded possible crypto-asset trusts, which are allegedly five in number. These were recorded with the corporation’s registry of Delaware. It is registered as the association’s “legal trustee” for the Uited States in Grayscale documentation. The new trusts are possibly going to include the following –

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Basic Attention Token (BAT) is utilized for trail recording the time spent on websites and user attention of the individuals who consume media. It is based on a blockchain system and tracks these activities through the Brave web browser. BAT is built on Ethereum’s network with the vision to effectively administer the funds for advertising amongst everyone involved, from publishers and advertisers to online content readers. Similarly powered by the Ether network, Decentraland is a platform facilitating virtual reality.

Chainlink and Tezos are both decentralized networks that incorporate smart-contracts. Meanwhile, Livepeer allows users to stream videos on its platform and functions as a decentralized system on the Ether network.

Products Will Meet Customer Demands 

In an email addressed to CoinDesk, Grayscale stated that the company is driven towards developing products that align with users’ demands. The company, on occasion, makes filings to reserve the introduction of certain products. However, this does not indicate that the commodity will be available in the market. If and when new products are set to be launched, the company will surely make an announcement.

Previously, the firm has also filed requests for Filecoin Trust. Filecoin functions as a dispersed network oriented towards the storage and deposit of cryptocurrency. It is built on a blockchain mechanism.

Grayscale is currently overlooking the management of assets, which translates to $25 billion. Undoubtedly, the firm is the leading preference for asset management within the crypto industry.

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Andrew Smith
Andrew is a blockchain developer from his education and developed his interest in the cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer.

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