Michael Sonnenshein announced Grayscale’s planned Defi fund and index. Grayscale is increasing its bid in crypto products with its current Defi Fund, and also marks its first entry into the valuable Defi ecosystem. Grayscale Investment will deploy a fund targeting blue-chip assets in a decentralized finance space.
Michael Sonnenshein, CEO of digital asset management giant Grayscale, revealed a new investment for the firm focused on decentralized finance assets.
Grayscale CEO Michael Sonnenshein said:
“Grayscale continues to focus on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem. The emergence of decentralized finance protocols provides clear examples of technologies that can redefine the future of the financial services industry. We’re proud to offer investors’ exposure to DeFi through Grayscale’s trusted, secure, and industry-leading investment product structures”
Attending CBNC’s squawk box, Sonnenshein announced Grayscale’s planned Defi fund and index. Informing about the purpose of the new product, Michael Sonnenshein said that the fund will widely spread along with Defi assets like Uniswap (UNI) and AVE (AAVE) for its institutional clients.
Anticipating the expectation of other institutional investments for crypto, Grayscale CEO believes that SEC will approve the Bitcoin ETF in the future, despite current delays. Grayscale is working with BNY Mellon, to convert its Bitcoin Trust into a Bitcoin ETF.
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