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Blockchain

Grayscale Floats New Smart Contract Fund for 6 Ethereum Competitors

The acclaimed largest digital belongings administration firm, Grayscale Investments has launched a brand new funding product tagged the Grayscale® Smart Contract Platform Ex-Ethereum Fund (GSCPxE).

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As announced by the corporate, GSCPxE will rank because the 18th funding product and third diversified fund providing the agency can be launching.

The GSCPxE fund options six different good contract blockchain protocols aside from Ethereum. The fund is designed to be operated by way of a market-capitalization-weighted portfolio designed to trace 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,” mentioned Grayscale CEO Michael Sonnenshein. “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 ensure 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.” 

As of March 16, the GSCPxE fund consists of;

  • Cardano (ADA), 24.63%

  • Solana (SOL), 24.27%

  • Avalanche (AVAX), 16.96%

  • Polkadot (DOT), 16.16%

  • Polygon (MATIC), 9.65%

  • Algorand (ALGO), 4.27%

  • Stellar (XLM), 4.06%

The curiosity Ethereum has gained through the years has served as a yardstick for buyers to hunt extra different avenues to achieve wider publicity, even to extra revolutionary good contract platforms. The launch of the GSCPxE fund signifies the broad demand for Decentralized Finance (DeFi) merchandise that cowl each institutional and retail climes.

Over the previous yr, Grayscale has launched a collection of funding merchandise to mannequin the demand from buyers at massive. Amongst essentially the most outstanding funds launched by the corporate entails that which options Chainlink (LINK) and Filecoin (FIL).

Image supply: Shutterstock

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