Crypto giant Grayscale has launched two new trusts offering investors exposure to liquid staking service Lido DAO (LDO) and scaling solution Optimism (OP).
The new trusts add to the crypto company’s more than 25 existing digital asset products.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, praise the two altcoin projects because of the benefits they bring to the Ethereum (ETH) ecosystem.
“Lido is helping to democratize staking on Ethereum, and optimism is critical for Ethereum to scale to compete with newer, faster layer 1 blockchains. Grayscale Lido DAO Trust and Grayscale Optimism Trust provide investors with exposure to protocols that help increase Ethereum efficiency, security, scalability and adoption within the broader decentralized financial ecosystem – and play a critical role in the Ethereum story.”
OP is trading at $2.52 at the time of writing, up 7.6% in the last 24 hours. Meanwhile, LDO is trading at $2.25 at the time of writing, up 17.4% on the day.
According to the press release, the trusts will function similarly to other single-investment trusts offered by the company.
Grayscale currently offers trusts for a number of other altcoins, including payment altcoin XRP, layer-1 Ethereum competitor Avalanche (AVAX), decentralized finance (DeFi) platform Maker (MKR), machine learning marketplace Bittensor (TAO), and smart contract platform Sui Network (SUI).
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Generated image: Midjourney