Grayscale Investments has rolled out the Grayscale Dynamic Income Fund, catering to affluent clients looking to enhance their investment portfolios with earnings generated from staking cryptocurrency tokens.
The fund, specifically tailored for individuals with assets surpassing $1.1 million or a net worth exceeding $2.2 million, focuses on converting staking rewards into U.S. dollars weekly. Investors can anticipate receiving these earnings on a quarterly basis.
Grayscale prides itself on the meticulous selection process for proof-of-stake (PoS) tokens included in the fund, taking into account the complexities of staking and unstaking various tokens that have specific requirements. The primary objective of the firm is to maximize staking income, placing capital growth as a secondary goal.
Staking involves holding cryptocurrency tokens to earn rewards, which ultimately contributes to the security and efficiency of blockchain networks. The Grayscale Dynamic Income Fund will comprise Osmosis (OSMO), Solana (SOL), and Polkadot (DOT) tokens, with shares of 24%, 20%, and 14%, respectively, while the remaining 43% will be allocated to other tokens.
Data from Staking Rewards reveals that the staking reward rates for OSMO, SOL, and DOT are 11.09%, 7.42%, and 11.9%, with SOL being the only token ranking in the top 10 PoS tokens by market capitalization on CoinMarketCap.
Recently, Grayscale’s attempt to launch a spot Bitcoin exchange-traded fund (ETF) on January 11 has encountered challenges, resulting in over $14 billion in outflows since its inception. The management fee associated with the Bitcoin ETF is 1.5% annually, significantly higher than the 0.30% average of other Bitcoin ETFs, falling short of the firm’s expectations.
Moreover, delays in the approval process with the United States Securities and Exchange Commission for an Ethereum Futures ETF have complicated Grayscale's cryptocurrency investment endeavors.
For submission of a crypto press release, kindly send an email to sales@cryptointelligence.co.uk.
