The digital asset management firm specializing in cryptocurrency mutual funds is based in DeFi. got in
Grayscale, one of the largest crypto asset managers in the world, confirmed in a press release yesterday that it will launch a new fund that will explicitly focus on tokens for decentralized finance (DeFi). The new product would be released in collaboration with CoinDesk’s TradeBlock wing. The press release stated that the product would allow investors to invest their funds in DeFi without first owning or buying tokens. This, the company said, would make the whole experience a lot easier.
The company’s CEO, Michael Sonnenshein, praised DeFi and its products as a promising investment space.
“Grayscale remains focused on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem. The advent of decentralized financial protocols provides clear examples of technology that can redefine the future of the financial services industry, ”he noted.
The press also announced that the new fund would use the Coindex DeFi Index, a product that CoinDesk acquired after acquiring TradeBlock in January. TradeBlock was among the first to develop a professional bitcoin tracking tool, the XRB Index, in 2014. Grayscale Bitcoin Trust was already the largest user of the XBX index at the time of purchase and was instrumental in contributing to the billions of dollars traded on TradeBlocks’ indices.
The New York-based company confirmed that the new product would be available to both private and institutional investors. Grayscale also announced its plans to list the product on a secondary exchange, but expressed doubts about the success of such a company. The digital asset manager intends to perform comprehensive benchmarking of DeFi logs using valuations based on market capitalization.
Sonnenshein also spoke about the company’s commitment to providing high quality DeFi services and products.
“We pride ourselves on offering investors exposure to DeFi through Grayscale’s proven, secure, and industry-leading investment product structures.”
The newly announced launch would be only the second diversified fund that Grayscale would have launched in the last three years after launching the Grayscale Digital Large Cap Fund in 2018. It is also the 16th investment product that the asset manager has produced.
DeFi is growing in popularity and has established itself as an area of high interest to investors. DeFi markets traded approximately $ 50 billion in the last year alone, and related DeFi products have also flourished. Grayscale continues to diversify in the crypto space after outlining plans to add 13 new products to its portfolio earlier this year, including Cardano, Monero and Polygon.