Business 7 March 2018

Dan Taylor

Grayscale rolls out crypto investment trusts for BCH, ETH, LTC, XRP

Grayscale Investments has unveiled four new cryptocurrency investment trusts for Bitcoin Cash, Ether, Ripple, and Litecoin, providing new opportunities for mainstream investors in the cryptocurrency space.

Michael Sonnenshein, managing director at Grayscale Investments, confirmed the launch of Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust, and XRP Investment Trust early this week, telling Bloomberg that there are plans for further similar single-currency funds in the near future.

“We remain focused on product creation and will continue to launch more single-asset and diversified products to provide exposure where investors are looking for it…There will be more offerings coming from the Grayscale family this year,” Sonnenshein told the news outlet.

The news follows on from several similar funds already offered by Grayscale, including single-asset funds for Segwit (BTC), Ethereum Classix, and Zcash. The announcement also comes several weeks after Grayscale launched its Digital Large Cap Fund, an investment vehicle that deals with investments across a range of leading cryptocurrencies including Bitcoin Cash, BTC, Ether, XRP, and others.

Grayscale Investments was established in 2013 by Digital Currency Group (DCG). Announcing the previous launch, DCG founder and Chairman Barry Silbert suggested the move was in response to growing demand from investors for digital currency assets.

The trusts have been established with the investment objective of shares being equal to the value of the assets it holds, less each individual fund’s expenses and liabilities, as measured by reference to the Tradeblock index on any given day.

Each of the trusts will charge a 2.5% management fee, and on its launch, the Bitcoin Cash fund has secured $6.26 million in assets.
Per the US Securities Act, the funds are limited to investments from accredited investors, limiting investment in the funds to those who qualify by net worth. Shares must be held for a period of one year before reselling restrictions are lifted.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

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