Jump to content
Sign in to follow this  
Atomic1221

Exclusive: Grayscale launches new 'Digital Large Cap Fund' tied to 5 top cryptocurrencies

Recommended Posts

Just to be clear they’re actually going to be buying the asset. 

Quote

“People don’t know or care which coin will win,” Silbert tells Yahoo Finance. “They just want to be in this asset class. We have people who want to put $100 million into this.”

 

Edited by Atomic1221

Share this post


Link to post
Share on other sites
Guest

So, forgive me for my questioning or seeming like I didn't read through the article well enough; but is this a mention at something like coinmarketcap being rebuilt into something more trustworthy / reliable? More specifically, they're creating their own?

Share this post


Link to post
Share on other sites
3 minutes ago, Mr_McFearson said:

So, forgive me for my questioning or seeming like I didn't read through the article well enough; but is this a mention at something like coinmarketcap being rebuilt into something more trustworthy / reliable? More specifically, they're creating their own?

No. It’s a fund that’s composed of top 5 crypto assets proportionally to their percentage market cap on CMC. 

Share this post


Link to post
Share on other sites
Guest

I think I understand now; it'll have a place within the stock market so that stock investors could purchase the simple shares of the "fund" and the money from the shares flow into the top five cryptos, correct?

Share this post


Link to post
Share on other sites
Just now, Mr_McFearson said:

I think I understand now; it'll have a place within the stock market so that stock investors could purchase the simple shares of the "fund" and the money from the shares flow into the top five cryptos, correct?

My view as well, I believe this to be the case. 

Share this post


Link to post
Share on other sites
Guest
Just now, Dutchpinoy said:

My view as well, I believe this to be the case. 

Holy hell. I wish the smaller fish had opportunity to buy share in that stock. At least cryptos are the key, and we're already at it!

Share this post


Link to post
Share on other sites
2 minutes ago, Mr_McFearson said:

Holy hell. I wish the smaller fish had opportunity to buy share in that stock. At least cryptos are the key, and we're already at it!

Investment funds are for players who have the money to have other people do the thinking for them. I'd be happier with returns for which I'm solely responsible when it comes to decisionmaking. Maybe that's just me.

Share this post


Link to post
Share on other sites

The reason they don’t have ETFs publically available is because there’s no consumer protection against wash trading and price manipulation as well as protections against wild price swings.

However, for now this is good. Big boys can load up on ETF and small fish can buy spot market on exchanges

Share this post


Link to post
Share on other sites

Update Live from Yahoo Crypto Summit:

Grayscale plans on bringing this large cap fund into the public market in the near future. They’ve already had success doing this with another fund, which is promising. 

Share this post


Link to post
Share on other sites
5 hours ago, Mr_McFearson said:

I think I understand now; it'll have a place within the stock market so that stock investors could purchase the simple shares of the "fund" and the money from the shares flow into the top five cryptos, correct?

It’s like an ETF for cryptos...for example the IBB (iShares NASDAQ Biotechnology Fund) is a weighted index of shares of biotech/Pharma companies listed on the  NASDAQ.  This is great new because it is institutional & retail investors buying XRP through this investment vehicle.

Share this post


Link to post
Share on other sites
5 hours ago, Mr_McFearson said:

Holy hell. I wish the smaller fish had opportunity to buy share in that stock. At least cryptos are the key, and we're already at it!

Would that make any difference to you? Since you're here, I suppose you put your money into XRP, which will give you kinda same revenue after all.

Share this post


Link to post
Share on other sites
Guest
1 hour ago, DucPeter said:

Would that make any difference to you? Since you're here, I suppose you put your money into XRP, which will give you kinda same revenue after all.

Not at all, because I do already invest directly! Was just a thought.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...