Tuesday, June 15, 2021

Grayscale Files New Trusts for Cardano (ADA), Monero (XMR), Polkadot (DOT), and Two Others

The world’s largest crypto asset manager, Grayscale Investments, has reportedly filed new trusts for Cardano (ADA), Monero (XMR), Polkadot (DOT), Aave, and Cosmos (ATOM)

According to the report, the trusts were filed at the Delaware Trust Company, Grayscale’s statutory trustee.

Read Also: Grayscale Increases Its Investment in Bitcoin and Ethereum at Expense of XRP, LTC, and Others

Grayscale Files New Trusts for Cardano (ADA), Monero (XMR), Polkadot (DOT), and Two Others
Courtesy of icis.corp.delaware.gov

Read Also: Grayscale Buys $185M Worth of Bitcoin in One Week, Now Has $3.6 Billion of BTC in Its Custody

As expected, each crypto community included is excited and bullish over the news. Howbeit, according to the CEO of Grayscale Investments, Michael Sonnenshein, the trust filing does not necessarily imply that Grayscale will launch these products now.

He added that filings relate to preparation for possible trust launches. But that in itself does not make it certain for a future launch.

Sonnenshein noted:

“Grayscale is always looking for opportunities to offer products that meet investor demands. Occasionally, we will make reservation filings, though a filing does not mean we will bring a product to market. Grayscale has and will continue to announce when new products are made available to investors.”

Read Also: IOHK, EMURGO, Ergo Announce AgeUSD, the First Stablecoin That Will Come to Cardano

Grayscale is the largest crypto asset manager in the world. It currently manages $24.5 billion worth of assets across its products. However, its Bitcoin (BTC) product boasts the lion’s share of the total assets under management (AUM) at over $21 billion.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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