Digital asset manager Grayscale Investments has launched a fund. cryptocurrency The new dedicated smart contract platform that does not include Ethereum underscores the growing investor demand for alternative blockchain networks.
The Grayscale Smart Platform Ex-Ethereum Fund, also known as the ticker GSCPxE, is the company’s 18th investment product.supportThe 7 Smart contract platforms are weighted as follows:
- Cardano (ADA): 24.63%
- Solana (SOL): 24.27%
- Avalanche (AVAX): 16.96%
- Polkadot (DOT): 16.16%
- Polygon (MATIC): 9.65%
- Algorand (ALGO): 4.27%
- Stellar (XLM): 4.06%
Grayscale said that this new fund Daily subscriptions will be accepted only by accredited investors.
Ethereum’s dominance as a leading smart contract platform is being challenged by competitors who claim to offer superior transaction speeds, lower costs, and higher throughput, while Ethereum still does. Still dominating the decentralized application space of the industry, DeFi is becoming increasingly competitive, with Ethereum currently accounting for only 55.4% of the total value locked on the DeFi protocol, down from Over 96% in January 2021 according to the informationof DeFi Llama
Grayscale is the world’s largest digital asset manager with over $36 billion in assets under management. As of March 22, the company had $60 billion in assets under management. In November 2021, when Bitcoin (BTC) broke a record high.
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