Grayscale Investments unveiled its “Smart Contract Platform Ex-Ethereum Fund” with the aim to provide exposure to smart contract platforms outside the Ethereum blockchain.
Also dubbed as “GSCPxE”, the fund is Grayscale’s 18th investment product and the third diversified fund offering says reports.
GSCPxE will offer investors with exposure to an array of industry-leading Smart Contract Platforms through a market-capitalization weighted portfolio.
Cardano, Solana, Avalanche are some of the non-ETH smart contract platforms that would hold the focus of the Fund. The following assets and weightings are included in the Fund:
- 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%
It is also clarified that currently, the fund is only open for a daily subscription by eligible individuals and institutional accredited investors. However, as Grayscale, the firm will have the shares of new products quoted on the secondary market.
“Investor demand for diversified exposure has grown in parallel to the ongoing evolution of the crypto ecosystem,” said Grayscale CEO Michael Sonnenshein.
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