XRP, BCH, LTC & ETH: Grayscale Adds 4 New Crypto Trusts

Grayscale Investments, the creator of the Bitcoin Investment Trust, is launching four new trusts for ethereum, litecoin, XRP and bitcoin cash today.

AccessTimeIconMar 6, 2018 at 3:10 p.m. UTC
Updated Sep 13, 2021 at 7:38 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Grayscale Investments, the creator of the Bitcoin Investment Trust, is launching four new trusts today, doubling its number of products aimed at helping investors explore cryptocurrencies.

The new trusts – which bring ethereum, litecoin, XRP and bitcoin cash to the offerings the firm provides – join Grayscale’s existing bitcoin, ethereum classic and zcash investment trusts, as well as its Digital Large Cap Fund, a multi-crypto investment fund announced last month.

Each of the newly announced cryptocurrencies is already part of the Digital Large Cap Fund, but were not previously available individually.

Michael Sonnenshein, the managing director of Grayscale Investments, said the new products are part of an expanding suite, and that the firm – a Digital Currency Group subsidiary – will continue to announce new products, both single-currency and diversified.

Sonnenshein continued:

“It is our belief that digital currencies as an asset class have not only arrived, but are here to stay. Consequently, we are committed to providing investors with structures that enable them to participate in this exciting asset class.”

As of March 5, Grayscale had $2.1 billion in assets under management, he said, up from $208 million just a year ago.

“This is a meaningful milestone for Grayscale as it increases the number of investment offerings under the Grayscale umbrella from four to eight. At this time last year, Grayscale had only one product, Bitcoin Investment Trust,” he told CoinDesk in an email.

The new products are among the first securities to allow investment in those particular cryptocurrencies, according to a press release. It adds the disclaimer that, the value of a share in a trust may not correspond to the value of a cryptocurrency being held by the trust.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Grayscale, Ripple, and Zcash Company, the for-profit entity that develops the zcash protocol.

Coins image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.