Grayscale Expands with Trusts for Lido DAO and Optimism Tokens
The post Grayscale Expands with Trusts for Lido DAO and Optimism Tokens appeared on BitcoinEthereumNews.com.
On December 12, Grayscale revealed that it had incorporated the Grayscale Lido DAO Trust and the Grayscale Optimism Trust into its lineup of cryptocurrency investment offerings. These trusts are positioned to appeal to investors seeking exposure to protocols driving Ethereum’s broader adoption. Grayscale Investments, the largest cryptocurrency asset manager globally, has introduced two new investment trusts focused on the governance tokens for Lido DAO and Optimism. These trusts are offered solely to qualified individual and corporate investors who fulfill certain financial criteria, including a net worth of at least $1 million or an annual household income of $300,000. Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, emphasized the crucial roles of Lido and Optimism in enhancing Ethereum’s capabilities. She noted that Lido is fundamental in democratizing staking on Ethereum, while Optimism is vital for allowing Ethereum to compete with newer, faster Layer 1 blockchain. Additionally, she highlighted that the Grayscale Lido DAO Trust and Grayscale Optimism Trust offer investors access to important protocols that enhance Ethereum’s efficiency, security, and scalability, ultimately contributing to its broader adoption within the DeFi ecosystem and enriching Ethereum’s overall narrative. Why Lido and Optimism Are Attracting Grayscale’s Investment According to their press release issued on Thursday, Lido enables liquid staking solutions for the Ethereum network, making staking more accessible and thereby working to enhance its security. LDO is integrated into Grayscale’s Financials Crypto Sector, comprising crypto assets that facilitate financial transactions and services. Currently, Lido holds $40 billion in total value locked (TVL), solidifying its status as the leading DeFi protocol in terms of TVL. On the other hand, the Optimism Trust utilizes its OP technology stack, based on Optimistic Rollups, to tackle liquidity fragmentation while enhancing scalability and reducing costs. With around $800 million in TVL, Optimism plays a key role in Ethereum’s scaling…
Filed under: News - @ December 13, 2024 2:27 pm