The world’s biggest spotlight Bitcoin Grayscale, the investment company known for managing its ETF to generate income crypto coins staker announced that it has launched a new fund.
The fund, called the Grayscale Dynamic Income Fund (GDIF), was introduced today and will initially hold assets for nine different blockchains: Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis (OSMO), Polkadot (DOT), SEI Network (SEI) And Solana (LEFT). The fund aims to distribute staking rewards quarterly in US dollars.
“As our first actively managed fund, GDIF is a significant expansion of our product suite and enables investors to participate in multi-asset staking through the convenience and familiarity of a singular investment vehicle,” said Grayscale CEO Michael Sonnenshein.
Staking can be described as a very important component of some blockchains. Unlike the Bitcoin network, which relies on proof-of-work where miners solve complex numerical puzzles to generate new Bitcoin (BTC), proof-of-stake networks like Ethereum allow token holders to pledge their assets to run the network. This process, known as staking, generates income for the staker.
The launch of GDIF comes at an important time, with Bitcoin hitting a new all-time high above $69,000 on Tuesday. Grayscale research manager Zach Pandl commented on the crypto rally, noting that valuations for Ethereum and most other tokens remain below their highs in the previous crypto cycle:
“If the macro markets backdrop remains favorable, we could see further increases in token valuations, but macro factors could also be a hurdle.”
*This is not investment advice.
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