Grayscale Introduces a Crypto Staking Fund

Twitter icon  •  Published 3 months ago  •  Hassan Maishera

Grayscale has launched its crypto staking fund, allowing users to stake some altcoins and earn extra income.

TL;DR

  • Grayscale has launched a cryptocurrency staking fund.

  • The Grayscale Dynamic Income Fund includes some exciting altcoins such as APT, TIA, CBETH, ATOM, NEAR, OSMO, DOT, SEI and SOL.

Grayscale Launches its Crypto Staking Fund

Grayscale, the investment firm behind the biggest spot bitcoin ETF, has launched its cryptocurrency fund. The fund would allow users to stake cryptocurrencies to earn extra income. 

The fund, called the Grayscale Dynamic Income Fund (GDIF), will initially own assets for nine blockchains: Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), Near (NEAR), Osmosis (OSMO), Polkadot (DOT), SEI Network (SEI), and Solana (SOL). GDIF aims to distribute rewards in U.S. dollars on a quarterly basis.

While commenting on this latest development, Grayscale CEO Michael Sonnenshein, said,

"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."

Staking is an important part of blockchains that use the Proof of Stake mechanism. The PoS protocols allow owners of their tokens to pledge their assets to run the network. Doing so is called staking, and it generates income for the staker.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.