World's leading cryptocurrency asset manager Grayscale Investments (OTCMKTS: GBTC) partnered with major industry media outlet Coindesk to launch the Grayscale Decentralized Finance Fund (OTC:GDFF).
What Happened: According to a Monday announcement, Grayscale Investments and Coindeks subsidiary CoinDesk Indexes are launching launch the fund, where the CoinDesk DeFi Index will be tracking major decentralized finance (DeFii) tokens.
The fund will be composed of multiple assets weightings.
The #1 Options Education & Alert Service
Nic Chahine, Benzinga's head options trader, sifts through the entire market every single day to give you his best trades. Learn and trade along Nic to see how he earns a full-time living trading options...
GDFF is already open for daily subscriptions to eligible individual and accredited institutiona investors.
Grayscale Investments intends to have shares of this new fund quoted on a secondary market but does not guarantee that its attempts to have it listed will be successful.
The company's CEO Michael Sonnenshein said that DeFi protocols are an example of "technologies that can redefine the future of the financial services industry."
According to late June reports, JPMorgan Chase & Co (NYSE:JPM) market strategists the selling of shares in Grayscale Bitcoin Trust (OTC:GBTC) would become a new source of selling pressure for Bitcoin.
16,000 BTC ($492 million as of press time) were released to investors on July 18. Today, 8,760 BTC was unlocked as well.
Where to put $1,000 right now
Learn while you earn... And start taking a serious look at options, the investment vehicle that is driving stocks like Tesla and Apple to historically unprecedented highs.
Lead by the anti-Wall Street options genius, Nic Chahine, Benzinga Options is seeing explosive (and often immediate) returns on his options trades. Simply click here now to get these winning trades!
These Options Trades Make Me Money Under ANY Market Condition
I'm Nic Chahine -- The guy who made a massive 300% return in two weeks with BA options this year. Then I 4X'd my investment with ETF calls in September.
So obviously, I trade options for a living.
Now I'm sharing my trades as I make them with Benzinga Options. And I want you to join me for the ride.