Grayscale Investments Announces Diversified Smart Contract Fund to Track Liquid Assets

Leading virtual asset management firm Grayscale Investments expands its comprehensive suite of digital product offerings with its latest diversified fund. Dubbed Grayscale Smart Contract Platform Ex-Ethereum Fund, the service tracks projects in the burgeoning crypto space that are underpinned by smart contract technology.

  • Grayscale Investments has launched a diversified product fund for investors interested in monitoring some of the biggest digital assets leveraging smart contracts in the crypto ecosystem.
  • Smart contracts are popular in the decentralized space, especially in the creation of DeFi solutions, cryptocurrencies, and NFTs. They function as protocols that allow users to automate processes on blockchain networks and set up conditional actions.
  • The so-called Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE) is designed to track assets on the CoinDesk Smart Contract Platform Select Ex ETH Index (SCPXX).
  • According to CoinDesk Insights, SCPXX leverages the Digital Asset Classification Standard (DACS) to measure market capitalization-weighted performances of highly liquid virtual assets powered by smart contract technology.
  • Grayscale CEO Michael Sonnenshein said the fund was built on the thesis that investor demand for exposure to the smart contract sector has grown in line with significant developments in crypto.
  • Sonnenshein stressed that since it remains unclear which platforms and protocols will come out on top, the GSCPxE fund offers a key investment vehicle geared towards providing access to relevant progress and innovative digital assets.
  • As of the time of writing this report, the fund boasts of assets including Algorand, Avalanche, Cardano, Solana, Stellar, Polkadot, and Polygon.
  • Also, regulated institutional investors and qualified private individuals can now access the fund’s daily subscription.

So far, the behemoth digital asset manager has launched several diversified funds designed to target a plethora of sectors in the cryptocurrency industry. Previously, the company announced its Grayscale Digital Large Cap Fund for investors interested in monitoring assets with massive market capitalization.