Grayscale Investments has taken a step ahead in introducing investors to crypto through a new crypto investment fund that would generate income from staking rewards from crypto tokens.
High-net-worth individuals could soon get access to Grayscale Investment’s new crypto investment fund. Those with a net worth higher than $2.2 million or with assets under management of $1.1 million will be able to invest in the fund. The fund will convert staking rewards to US dollars for investors.
In an official press release, Grayscale stated, “Grayscale manages the complexity of staking and unstaking multiple tokens as each token has its own individual timelines and requirements to be staked and unstaked.” The fund will enable weekly conversions and distribute the gains to investors quarterly.
Moreover, the fund will invest in proof-of-stake tokens. Meanwhile, Grayscale has clarified its main goals as capital appreciation and increasing income from its assets. For now, Grayscale has named three tokens for investments: Solana, Polkadot, and Osmosis. With the fund seeking staking rewards, high-net-worth investors will finally be able to invest in crypto staking strategies.
At the same time, another firm has filed for a spot Ether ETF. The asset management firm Bitwise has filed the application with the US SEC. A spot Ether ETF is similar to a spot Bitcoin ETF. The ETF approvals in January 2024 contributed to a huge rally in the crypto market in 2024. BTC has also surged by almost 70% this year.
With these new developments, the overall crypto landscape looks promising for the future. Reputed asset management firms exploring products like investment funds and ETFs are a testament to crypto’s potential. One could expect to see more such products from large fund houses in the next few months.
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