Analysis

Crypto Giant Grayscale Rolls Out New Trusts for Lido DAO (LDO) and Optimism (OP)

Published

1 year ago

December 13, 2024

Crypto large Grayscale has launched two new trusts providing buyers publicity to liquid staking service Lido DAO (LDO) and scaling answer Optimism (OP).

The brand new trusts add to the crypto firm’s greater than 25 current digital asset merchandise.

Rayhaneh Sharif-Askary, Grayscale’s head of product and analysis, praise the 2 altcoin initiatives due to the advantages they convey to the Ethereum (ETH) ecosystem.

“Lido helps to democratize staking on Ethereum, and optimism is important for Ethereum to scale to compete with newer, sooner layer 1 blockchains. Grayscale Lido DAO Belief and Grayscale Optimism Belief present buyers with publicity to protocols that assist enhance Ethereum effectivity, safety, scalability and adoption inside the broader decentralized monetary ecosystem – and play a important position within the Ethereum story.”

OP is buying and selling at $2.52 on the time of writing, up 7.6% within the final 24 hours. In the meantime, LDO is buying and selling at $2.25 on the time of writing, up 17.4% on the day.

In keeping with the press launch, the trusts will perform equally to different single-investment trusts provided by the corporate.

Grayscale at the moment gives trusts for various different altcoins, together with cost altcoin XRP, layer-1 Ethereum competitor Avalanche (AVAX), decentralized finance (DeFi) platform Maker (MKR), machine studying market Bittensor (TAO), and sensible contract platform Sui Community (SUI).

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