Originally published on: December 12, 2024
Grayscale Investments has introduced two new investment funds for Lido and Optimism’s governance tokens, LDOLDO and OPOP, on December 12th. The Grayscale Lido DAO Trust and Grayscale Optimism Trust aim to provide exposure to Ethereum’s leading liquid staking token protocol and a popular layer-2 scaling solution.
According to Rayhaneh Sharif-Askary, Grayscale’s head of product and research, Lido is revolutionizing staking on Ethereum, while Optimism plays a crucial role in Ethereum’s scalability against newer blockchain competitors.
These trusts offer investors the opportunity to benefit from protocols that enhance Ethereum’s efficiency, security, scalability, and adoption within the DeFi ecosystem.
Lido is a leading LST protocol that issues tradable tokens backed by a pool of staked Ether (ETH), boasting nearly $40 billion in total value locked. On the other hand, Optimism is a prominent L2 network with approximately $800 million in total value locked. Its technology is leveraged by other L2s like Coinbase’s Base and Uniswap’s Unichain, forming a connected network known as the “superchain.”
Grayscale’s new funds are exclusive to qualified investors and expand its range of single-asset crypto investment products. In the past, Grayscale has launched investment funds for Aave’s governance token, AAVE, and added various altcoins to its consideration list for potential future investment products.
As the world’s largest crypto fund manager with nearly $35 billion in assets under management, Grayscale continues to be a significant player in the cryptocurrency market. Stay updated with the latest business trends in blockchain and crypto by subscribing to our Crypto Biz newsletter for a weekly snapshot of key insights and opportunities in the industry. Subscribe now to navigate the market effectively!