Grayscale Announces New DeFi Fund

According to Grayscale CEO Michael Sonnenshein, digital asset manager Grayscale Investments is launching a DeFi Fund and index.

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Speaking on Squawk Box, Sonneshein explained that the firm has attracted interest from a broad investor base for DeFi assets, as well as its existing investors, and as a result, the firm has developed an institutional-grade index with a fund.

The Fund will enable investors to invest in DeFi protocols through a single investment vehicle and enable them to transact with DeFi assets, including leading DeFi protocols such as Uniswap (UNI) and Aave (AAVE).

Sonneshein noted that this will be Grayscale’s 15th investment vehicle. The firm currently offers a number of funds for Bitcoin, Ethereum, and other cryptocurrencies, as well as a major equity fund that provides the opportunity to invest in a number of leading currencies. This cryptocurrency fund has become organizations reporting to an SEC, following Bitcoin and Ethereum funds.

Grayscale is also working with BNY Mellon to turn its main Bitcoin fund (GBTC) into a bitcoin ETF and achieve this. Sonneshein also commented on the Bitcoin ETF, stating that the SEC’s approval of a Bitcoin ETF “It’s not whether it will happen, but when it will happen” said.

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