Crypto Giant Grayscale Boosts Five Altcoins, Launches New Crypto Products for Institutional Investors

Crypto investing giant Grayscale announces five new crypto products, giving a boost to a handful of select altcoins.

Grayscale founder Barry Silbert announced the addition of the firm’s new crypto trusts in a tweet this week.

Silbert reveals that the firm plans to offer clients exposure to Brave Browser’s token (BAT), Chainlink oracle’s LINK, Dentraland’s MANA gaming token, decentralized data storage solution Filecoin (FIL) and video streaming network Livepeer (LPT).

Grayscale Investments is offering new trusts to invest specifically in five different cryptocurrencies$BAT $LINK $MANA $FIL $LPT

via @markets @kgreifeld @olgakharifhttps://t.co/9PABzSDCVk

— Barry Silbert (@BarrySilbert) March 17, 2021

All five projects witnessed price increases upon the news. Filecoin (FIL) saw a dramatic 52% increase from $59 on March 16th to $89.7 the next day, according to CoinGecko.

Earlier this year, Grayscale sparked rumors that it would introduce new offerings as it registered a large set of crypto trusts with the Delaware corporate registry.

Some altcoins for which the firm has registered projects but has not yet announced any trusts are:

• Grayscale Aave Trust (AAVE)
• Grayscale Cardano Trust (ADA)
• Grayscale Cosmos Trust (ATOM)
• Grayscale EOS Trust (EOS)
• Grayscale Monero Trust (XMR)
• Grayscale Uniswap Trust (UNI)
• Grayscale Polkadot Trust (DOT)

Grayscale’s current suite of products allows investors exposure to Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), and Zcash (ZEC).

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Featured Image: Shutterstock/Tithi Luadthong