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Digital asset manager Grayscale Investments is launching DeFi fund and index, according to Grayscale CEO Michael Sonnenshein.
Speaking on Squawk Box, Sonneshein said the company has seen the interest of a large base of its existing investors – as well as potential investors – in DeFi assets. As a result, the company has developed an institutional grade index, as well as a fund.
The fund will give investors the ability to invest in DeFi protocols through a single investment vehicle, he said. This will give them broad exposure to DeFi assets, including uniswap (UNI) and aave (AAVE).
Sonneshein noted that it will be Grayscale’s 15th investment vehicle. The company currently offers a range of trusts for bitcoin, ether, and other cryptocurrencies, as well as a large-cap digital fund, which provides exposure to a range of the best cryptocurrencies. The company recently announced that this crypto fund has become an SEC reporting company, as a result of its bitcoin and ether trusts.
Grayscale is also trying to turn its main bitcoin trust (GBTC) into a bitcoin ETF, which may face its constant negative premium. She is now working with BNY Mellon to achieve this. On the show, Sonneshein added that in his opinion, SEC approval of a bitcoin ETF is “really a matter of when, not if”.
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