Grayscale Releases Smart Contract Platform Fund

Tuesday, 22/03/2022 | 21:12 GMT by Felipe Erazo
  • It would be branded as Smart Contract Platform Ex-Ethereum Fund (GSCPxE).
  • 24.63% of Grayscale's fund consists of Cardano (ADA) as of press time.
GRAYSCALE

On Tuesday, Grayscale Investments, the world’s largest digital asset manager, announced the official launch of Grayscale smart Contract Platform Ex-Ethereum Fund, or GSCPxE.

The offering becomes its eighteenth investment product within the portfolio of diversified funds. According to the firm, GSCPxE provides investors with exposure to a selection of Smart Contract Platforms through a market-capitalization-weighted portfolio designed to track the CoinDesk Smart Contract Platform Select Ex ETH Index.

“Investor demand for diversified exposure has grown in parallel to the ongoing evolution of the crypto ecosystem,” Michael Sonnenshein, the CEO of Grayscale Investments, commented. He added: “Smart contract technology is critical to the growth of the digital economy, but it’s still too early to know which platform will win: from attracting and retaining the most vibrant developer communities to ensuring the platform is high-speed, flexible, and scalable. The beauty of GSCPxE is that investors do not have to choose one winner and instead can access the development of the smart contract platform ecosystem through a singular investment vehicle.”

Current Portfolio

So far, the fund consisted of the following assets: Cardano (ADA), 24.63%; Solana (SOL), 24.27%; Avalanche (AVAX), 16.96%; Polkadot (DOT), 16.16%; Polygon (MATIC), 9.65%; Algorand (ALGO), 4.27% and Stellar (XLM), 4.06%.

Individuals and institutions with accredited investor status can now subscribe daily to the Fund. “The CoinDesk Smart Contract Platform Select Ex ETH Index is designed to measure the market-capitalization-weighted performance of the largest and most liquid digital assets, excluding ETH, that meet certain trading and custody requirements, and are classified in the Smart Contract Platform sector defined by CoinDesk Digital Asset Classification Standard (DACS),” Jodie Gunzberg, the CFA and Managing Director of CoinDesk Indices, pointed out.

In February, the US Securities and Exchange Commission (SEC) delayed Grayscale’s proposed ETF, a spot bitcoin exchange-traded fund. In a statement released, the SEC is concerned about how Grayscale will fend off the manipulation and fraud.

On Tuesday, Grayscale Investments, the world’s largest digital asset manager, announced the official launch of Grayscale smart Contract Platform Ex-Ethereum Fund, or GSCPxE.

The offering becomes its eighteenth investment product within the portfolio of diversified funds. According to the firm, GSCPxE provides investors with exposure to a selection of Smart Contract Platforms through a market-capitalization-weighted portfolio designed to track the CoinDesk Smart Contract Platform Select Ex ETH Index.

“Investor demand for diversified exposure has grown in parallel to the ongoing evolution of the crypto ecosystem,” Michael Sonnenshein, the CEO of Grayscale Investments, commented. He added: “Smart contract technology is critical to the growth of the digital economy, but it’s still too early to know which platform will win: from attracting and retaining the most vibrant developer communities to ensuring the platform is high-speed, flexible, and scalable. The beauty of GSCPxE is that investors do not have to choose one winner and instead can access the development of the smart contract platform ecosystem through a singular investment vehicle.”

Current Portfolio

So far, the fund consisted of the following assets: Cardano (ADA), 24.63%; Solana (SOL), 24.27%; Avalanche (AVAX), 16.96%; Polkadot (DOT), 16.16%; Polygon (MATIC), 9.65%; Algorand (ALGO), 4.27% and Stellar (XLM), 4.06%.

Individuals and institutions with accredited investor status can now subscribe daily to the Fund. “The CoinDesk Smart Contract Platform Select Ex ETH Index is designed to measure the market-capitalization-weighted performance of the largest and most liquid digital assets, excluding ETH, that meet certain trading and custody requirements, and are classified in the Smart Contract Platform sector defined by CoinDesk Digital Asset Classification Standard (DACS),” Jodie Gunzberg, the CFA and Managing Director of CoinDesk Indices, pointed out.

In February, the US Securities and Exchange Commission (SEC) delayed Grayscale’s proposed ETF, a spot bitcoin exchange-traded fund. In a statement released, the SEC is concerned about how Grayscale will fend off the manipulation and fraud.

About the Author: Felipe Erazo
Felipe Erazo
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About the Author: Felipe Erazo
Felipe earned a degree in journalism at the University of Chile with the highest honour in the overall ranking, and he also holds a Bachelor of Arts in Social Communication. In addition, he has been working as a freelance writer and Forex/crypto analyst, with experience gained from several forex broker firms and crypto-related media outlets around the world. He has been involved in the world of online forex trading since 2010 and in the crypto sphere since 2015.
  • 1036 Articles
  • 42 Followers

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