Exposing more people to the cryptocurrency ecosystem is an ongoing challenge for all companies. So far, the general public has seemingly cooled off on cryptocurrencies ever since their prices started to dip earlier this year. Grayscale Investments will try to make a positive impact in this regard. The company announced four new investment trusts meant to bring cryptocurrency to the masses.
Grayscale Investments Unveils Bold Plans
No one will deny that Grayscale Investments is attempting to become a household name in the world of cryptocurrency investing. It was one of the first big firms to launch a Bitcoin investment trust, which exposes investors around the world to the Bitcoin price through a traditional investment vehicle. Later, the company launched an Ethereum Classic investment trust as well. That choice has always been considered to be rather controversial, yet it seems to have worked out quite well for the company.
Over time, it has become evident that a lot of investors would appreciate having exposure to different cryptocurrencies as well. This industry is about so much more than just Bitcoin, and Ethereum Classic is not exactly the most popular altcoin out there. In fact, it is taking a backseat to a lot of other coins right now. Grayscale Investments has taken note of this, which is why the company announced a few new investment products this week.
More specifically, the company will launch a total of four new investment trusts in the near future. The new products will focus on Ethereum, Bitcoin Cash, Litecoin, and XRP. All of these currencies are in very high demand as of right now, although it remains to be seen how the general investor base will respond to these vehicles in the coming weeks and months.
Expanding the list of crypto-related vehicles offered by Grayscale Investments is a big deal for the cryptocurrency industry as a whole, although it remains to be seen how this will affect all of the markets. Investors have been demanding more exposure to various cryptocurrencies, although the current market sentiment appears to be rather bearish.
It is important to note that these investment trusts do not guarantee that the value of the individual currencies will rise. As we have seen with the company’s previous offerings, market volatility tends to shake things up quite a bit, although one could also argue these vehicles have indeed spurred more global interest in cryptocurrency as a whole. This news comes at a time when companies are contemplating issuing altcoin-related futures contracts, although nothing has been finalized as of yet.
For the time being, we will have to wait and see how this plays out for Grayscale Investments and the associated cryptocurrencies. All of these altcoins are quite popular, and they all have room for a lot of future profits. No one can guarantee that any of these currencies will rise in value in the short term, but from a long-term perspective, they all appear to be relatively safe bets.