Grayscale Expands Suite of Crypto Products with New Trusts Offering Exposure to LDOLDO and OPOP
Grayscale Investments announced the launch of two new investment funds for Lido and Optimism’s governance tokens, LDOLDO and OPOP, on December 12th. The asset manager has expanded its suite of single-asset crypto investment products with these new trusts.
Lido DAO Trust and Optimism Trust Offer Exposure to Ethereum’s Largest Liquid Staking Token Protocol and Layer-2 Scaling Solution
Grayscale Lido DAO Trust and Grayscale Optimism Trust provide investors with exposure to the native tokens of Lido, one of the largest liquid staking token (LST) protocols on Ethereum, and Optimism, a popular layer-2 scaling solution.
"Lido is helping to democratize staking on Ethereum, and Optimism is critical in allowing Ethereum to scale to compete with newer, faster layer 1 blockchains," said Rayhaneh Sharif-Askary, Grayscale’s head of product and research. "These trusts are designed to offer investors exposure to protocols helping to increase Ethereum’s efficiency, security, scalability, and adoption within the broader DeFi ecosystem."
Lido: Democratizing Staking on Ethereum
Lido is an LST protocol that issues tradeable tokens representing claims on an underlying pool of staked Ether (ETH). It currently boasts nearly $40 billion in total value locked (TVL), making Lido the largest decentralized finance (DeFi) protocol by TVL, according to DefiLlama.
Optimism: A Critical Layer-2 Scaling Solution for Ethereum
Optimism is a popular layer-2 network with approximately $800 million in TVL, according to DefiLlama. Its technology stack is used by other layer-2 (L2) networks, including Coinbase’s Base and Uniswap’s Unichain, creating a network of interlinked L2s that Optimism dubs the "superchain."
Grayscale Expands Suite of Crypto Products
The launch of these two new trusts adds to Grayscale’s suite of single-asset crypto investment products. In October, Grayscale launched an investment fund for Aave’s governance token, AAVEAAVE. The asset manager has also added 35 crypto altcoins, including Dogecoin (DOGE), Worldcoin (WLD), Pyth (PYT), and Rune (RUNE), to a list of assets that are "under consideration" for future investment products.
Grayscale’s Growing List of Crypto Products
Grayscale is the world’s largest crypto fund manager, with nearly $35 billion in assets under management as of December 11, according to Grayscale. The asset manager is best known for its Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), including Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
US Regulators Mull Approving Grayscale Crypto Index ETF
United States regulators are mulling permitting Grayscale Digital Large Cap Fund (GDLC), which holds a diverse portfolio of cryptocurrencies, as an ETF.
Expanding Access to the Cryptocurrency Market
Grayscale’s expansion into new investment products and its growing list of assets under management demonstrate the asset manager’s commitment to expanding access to the cryptocurrency market for investors. With the launch of these two new trusts, Grayscale continues to play a leading role in the development of the crypto investment landscape.
About Grayscale
Grayscale is a leading provider of digital currency investment products, with a suite of single-asset and diversified funds that offer exposure to cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The asset manager’s focus on providing investors with secure, transparent, and liquid investment options has made it one of the largest crypto fund managers in the world.
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