Crypto Giant Grayscale Rolls Out New Trusts for Lido DAO (LDO) and Optimism (OP)

Crypto giant Grayscale has launched two new trusts that offer investors exposure to liquid staking service Lido DAO (LDO) and scaling solution Optimism (OP).

The new trusts add to the crypto firm’s more than 25 existing digital asset products.

Rayhaneh Sharif-Askary, Grayscale’s head of product and research, praises the two altcoin projects for the benefits they bring to the Ethereum (ETH) ecosystem.

“Lido is helping to democratize staking on Ethereum, and Optimism is critical in allowing Ethereum to scale to compete with newer, faster layer-1 blockchains. Grayscale Lido DAO Trust and Grayscale Optimism Trust provide investors with exposure to protocols helping to increase Ethereum’s efficiency, security, scalability, and adoption within the broader decentralized finance ecosystem – playing a critical role in the Ethereum story.”

OP is trading for $2.52 at time of writing, up 7.6% in the last 24 hours. Meanwhile, LDO is trading for $2.25 at time of writing, up 17.4% on the day.

According to the press release, the trusts will function the same as other single-investment trusts offered by the firm.

Grayscale currently offers trusts for a number of other altcoins, including payments altcoin XRP, the layer-1 Ethereum competitor Avalanche (AVAX), the decentralized finance (DeFi) platform Maker (MKR), the machine learning marketplace Bittensor (TAO) and the smart contract platform Sui Network (SUI).

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