The Dechained Brings You Some Exciting News: Grayscale Investments Has Revealed Its Most Recent Crypto Adventure

Posted August 5, 2021 by thedechained

This press release intends to inform readers that Grayscale Investments, the world’s largest digital asset management company is launching a newly diversified investment product in the burgeoning decentralized finance sector.

Grayscale Investments, the world's largest digital asset management company, has unveiled its latest cryptocurrency initiative. The company says it will now introduce a newly diversified investment product in the booming decentralized finance industry.

The Grayscale Decentralized Finance (Defi) Fund would enable investors to obtain exposure to a number of top Defi protocols "via a market-capitalization-weighted portfolio designed to match the CoinDesk Defi Index."
The CoinDesk Defi Index will aim to “provide a broad-based, benchmark representation of Defi protocols,” according to the statement.

In recent years, Defi protocols have attracted a lot of attention. According to our latest analysis, "transaction volume on decentralized exchanges increased from $221 billion to $404 billion between April and June." Furthermore, over 3 million unique addresses have interacted with the Ethereum ecosystem, which is built on the network of the second-largest crypto asset by market cap.

The emergence of Defi, according to Grayscale CEO Michael Sonenshein, is a "concrete example of technology that can change the future of the financial services industry." His investment venture will "focus on developing chances for investors to access new, fascinating aspects of the digital asset ecosystem," he added.

It's worth noting that Grayscale's Bitcoin trust is the world’s largest. The investment firm has collaborated with BNY Mellon in an attempt to convert the money into an exchange-traded fund, despite the fact that it is now trading at a negative premium.

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Issued By The DeChained
Country United Kingdom
Categories Finance
Tags Bitcoin , DeFi , crypto , blockchain
Last Updated August 5, 2021