Barry Silbert’s Digital Large Cap Fund Looks To Capitalize On Coinbase’s Index Fund Closure
At the beginning of the week, there were some reports about Coinbase shutting down its fund specifically designed for accredited investors. The popular cryptocurrency company and platform was not able to raise the number of investors that it was expecting.
This is why, Barry Silbert, founder of Grayscale Investments, decided to offer its fund to accredited institutional and individual investors. The information has been released by Barry Silbert himself on Twitter on October 12.
— Barry Silbert (@barrysilbert) October 12, 2018
Grayscale’s Digital Large Cap Fund will be accepting these new investors that were not able to rely on Coinbase’s services.
According to Grayscale, the fund has $11.8 million dollars in net assets. At the same time, Grayscale offers single asset products such as Bitcoin investment Trust, Bitcoin Cash Investment Trust, Ethereum Investment Trust and other coin funds.
The cryptocurrency world is moving in order to start welcoming institutional investors. Companies such as the Intercontinental Exchange have been working on different platforms such as Bakkt that have been specifically designed for institutions.
Coinbase decided to shut down its own Crypto Index Fund Product just four months after offering it to institutions whiling to invest in virtual currencies.