announced Grayscale, a fund and crypto asset management company, announced the launch of five new cryptocurrency mutual funds.

New investment funds announced by Grayscale include the following:

• Grayscale Livepier trust”
• Grayscale philicoin trust”
• Grayscale decentralization trust”
• Grayscale chain link trust”
• Grayscale Primary Attention Token trust”.

The company offers new trust funds to invest specifically in five different cryptocurrencies.

Grayscale mutual funds delve into the specialized corners of the crypto world, where the company’s funds will invest in the following cryptocurrencies:

“Livepeer”, “Filecoin”, “Chainlink”, “Basic Attention” and the fifth fund will invest in the virtual reality currency known as “Decentraland”.

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These digital currencies are abbreviated with the following abbreviations:

• LPT
• FILE
• mana
• Link
• paddle.

Institutional investors who rely on Grayscale’s investment services will have more options to choose from among the five new products.

The five new funds are already open for daily subscription by qualified institutional and accredited individual investors.

Customers can now purchase product shares through their own ongoing and periodic private placements.

The new funds will act like the old Grayscale single-asset mutual funds like:

• Grayscale Bitcoin Fund
• Grayscale Ethereum Trust
• Grayscale Bitcoin Cash Box
• Grayscale Ethereum Classic Trust
• Grayscale Litecoin Trust
• “Grayscale Digital Large Cap Fund”.

Grayscale and the desire to stay ahead of the competition:

The developments come as the New York-based company announced late last month that it was studying several new digital assets for potential new products to meet growing investor demands.

Read:Traders ask… What after the rise of Ripple (XRP)?

Building on the announcement in late February of this year, Grayscale revealed a shortlist of digital assets it was considering choosing from to create new investment products.

Investment firm Grayscale has become one of the most dynamic participants in the cryptocurrency markets.

In light of the increasing competition in the field and the success of the company’s existing products, the world’s largest cryptocurrency manager is looking forward to new tools to offer its clients.

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