This is Why Grayscale Launches Lido DAO and Optimism Trusts
Grayscale today announced the availability of two new investment vehicles – Lido-based trusts DAO (LDO) and a question about optimism (OP). Both trusts are currently available.
The company claims that Lido DAO and Optimism have similar potential to contribute to Ethereum’s blockchain ecosystem. Both assets also experienced similar price trajectories last year.
Grayscale creates new trust based on 2 altcoins
grayscale, One of the largest Bitcoin ETF issuersannounced the news through the media today release. Both Lido DAO and Optimism Trusts will provide investment in the protocol’s respective tokens. However, the company did draw attention to Ethereum, the underlying blockchain for both protocols.
“Grayscale Lido DAO Trust and Grayscale Optimism Trust provide investors with protocols that help increase the efficiency of Ethereum, Safetyscalability, and broader adoption Decentralized Finance Ecosystem – plays a key role in the Ethereum story. ” said Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale.
The firm has employed this strategy before, creating non-ETF trusts that provide exposure to crypto assets. Grayscale Convert existing trust products to Bitcoin ETFs and established two new trusts in November. It creates an XRP trust Earlier this month, other companies filed for ETFs and One based on XLM in a few weeks.
Besides using Ethereum, the two protocols have some similarities. optimism, Summarize scaling solutionsprices fluctuated violently last year. Although the broad cryptocurrency bull market has Give it new motivation for health, Optimism’s Token Value Takes Huge Hit earlier this year.
Optimistic (OP) price performance. source: bein encryption
Lido, Ethereum staking solutionhas experienced a similar roller coaster this year. it suffered Errors in the Solana service In April, this resulted in massive negative publicity.
However, there have been positive technological developments, e.g. FusionChainlink CCIP goes online in October
In other words, Grayscale may have chosen Lido DAO and Optimism because of these impressive rallies, and their potential to bring benefits to the Ethereum network. Grayscale already owns an Ethereum ETF, but poor performance. However, both Ethereum-connected products have shown stronger momentum.
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