While Bitcoin continues to be the main focus of investors, investors looking to diversify their portfolio are also interested in altcoins other than BTC.
Being aware of this situation, Grayscale took a new step for various altcoin trusts. These altcoins were seen to be Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC), Solana (SOL) and Stellar (XLM).
According to a post by Chinese cryptocurrency journalist Wu Blockchain, Grayscale has launched special subscriptions for certain cryptocurrency trusts that only accredited investors can access.
These trusts include Grayscale Bitcoin Cash Trust, Grayscale Chainlink Trust, Grayscale Litecoin Trust, Grayscale Solana Trust and Grayscale Stellar Lumens Trust.
Grayscale’s email notification shows that private placement subscriptions for some cryptocurrency trusts have been opened to accredited investors, including Grayscale Bitcoin Cash Trust, Grayscale Chainlink Trust, Grayscale Litecoin Trust, Grayscale Solana Trust, and Grayscale…
— Wu Blockchain (@WuBlockchain) February 15, 2024
Subscriptions will be determined according to net asset value, and investors will have the opportunity to subscribe according to the net asset value of each fund.
Grayscale offered institutional players exposure to different crypto assets due to the lack of regulation in the market. However, large institutional investors stayed away from GBTC due to high transaction fees. High transaction fees are also one of the key factors behind the massive outflows experienced by Grayscale Bitcoin ETFs last month.
*This is not investment advice.
