Stamford, Connecticut, Tuesday, March 12, 2024 – Grayscale Investments, the company behind the world’s largest Bitcoin exchange-traded fund (ETF), announced on March 4 the launch of a new cryptocurrency product, the Grayscale Dynamic Income Fund (GDIF). 1
It said the GDIF is a first-of-its-kind actively managed fund for Grayscale, focusing on staking rewards from various Proof-of-Stake (PoS) blockchains.
The Press Release said that to assess protocols for inclusion in the Fund, GSA employs qualitative and quantitative factors, including staking rewards, market capitalization, and liquidity.
“Grayscale Dynamic Income Fund (GDIF) currently consists of nine crypto assets, including Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis (OSMO), Polkadot (DOT), SEI Network (SEI), and Solana (SOL), as of February 29, 2024,” it said.
The fund intends to distribute these earned rewards to investors on a quarterly basis in U.S. dollars.
“As our first actively managed Fund, GDIF is an important 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 Michael Sonnenshein, CEO of Grayscale, in the statement.
Unlike Bitcoin, which relies on proof-of-work mining, PoS blockchains validate transactions through a staking process.
- Grayscale: https://www.globenewswire.com/en/news-release/2024/03/05/2840669/0/en/Grayscale-Advisors-New-Investment-Opportunity-Aims-to-Capture-Staking-Rewards.html[↩]
